NorthStar Realty Finance Corp. purchased Griffin-American Healthcare REIT II for $4 billion. 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 deal. The acquisition was announced in August and is expected to close in the fourth quarter of 2014.
The acquisition followed Ventas’ bid to acquire American Realty Capital Healthcare Trust in June. While the ARC Healthcare merger is pending approval, Ventas acquired 29 Canadian senior living communities from Holiday Retirement in an all-cash deal shortly after the merger announcement. The private-pay properties are located in seven Canadian provinces, with the majority in Ontario and Alberta. At the close, Atria Senior Living assumed management of the communities.
And in other healthcare real estate news, the rece