Tuesday, August 05, 2014 1:22:13 PM
-Transaction creates a leading healthcare real estate platform with significant value creation opportunities
-Transformative transaction further positions NorthStar as a leading opportunistic real estate investor with approximately 75% of pro forma assets in owned real estate
NEW YORK, Aug. 5, 2014 /PR Newswire/ -- NorthStar Realty Finance Corp. (NYSE: NRF) ("NorthStar Realty") and Griffin-American Healthcare REIT II, Inc. ("Griffin-American") today announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which NorthStar Realty will acquire all of the outstanding shares of Griffin-American in a stock and cash transaction valued at $4 billion, including approximately $600 million of debt, establishing NorthStar Realty as a leading investor in the healthcare real estate sector.
NorthStar Realty is acquiring the portfolio, which is comprised of predominantly medical office buildings (43%) and senior housing facilities (30%) in the United States and the United Kingdom, at an approximate 6.4% cap rate based on our estimate of 2015 NOI and the transaction is expected to be neutral to NorthStar Realty's cash available for distribution. The acquisition increases the scale and diversification of NorthStar Realty's assets and increases owned real estate to approximately 75% of the pro forma company. The transaction creates a best in class healthcare portfolio diversified by geography, asset class, tenant/operator and operating model, with a weighted average lease term of 9.1 years.
more...
http://phoenix.corporate-ir.net/phoenix.zhtml?c=185725&p=irol-newsArticle&ID=1955298&highlight=
Coinllectibles' Subsidiary, Grand Town Development Limited, Acquires Rare Song Dynasty Ceramics Worth Over USD28million • COSG • Apr 18, 2024 8:03 AM
ILUS Provides Form 10-K Filing Update • ILUS • Apr 17, 2024 9:54 AM
Glucotrack Announces Expansion of Its Continuous Glucose Monitoring Technology to Epidural Glucose Monitoring • GCTK • Apr 17, 2024 8:00 AM
Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • AHRO • Apr 16, 2024 1:30 PM
Cannabix Technologies Begins Certification of Contactless Alcohol Breathalyzer, Re-Brands product series to Breath Logix • BLOZF • Apr 16, 2024 8:52 AM
Kona Gold Beverages, Inc. Acquires Surge Distribution LLC from Loud Beverage Group, Inc. (LBEV) • KGKG • Apr 16, 2024 8:30 AM