Following a rumored bidding war over healthcare real estate investment trust Griffin-American Healthcare REIT II, American Realty Capital Healthcare Trust has emerged as a frontrunner, Reuters reported this weekend. Citing people familiar with the matter, the report indicates Griffin-American Healthcare REIT II is still valued at around $3.7 billion by its potential acquirer.
ARC healthcare is looking to complete a purchase agreement in two weeks’ time, the report continues, noting the possibility that the deal could still fall apart.
Earlier this month, four major healthcare REITs were rumored to have been eyeing the major investor in healthcare properties, including ARC Healthcare, Ventas Inc., Health Care REIT Inc., and NorthStar Realty Finance Corp., according to a Wall Street Journal report that also cited unnamed sources.
Now, the deal could be much closer to materializing for the REIT that currently owns several portfolios of assisted living communities, CCRCs and skilled nursing facilities among its senior living holdings. Earlier this year, the REIT closed a $300 million RIDEA acquisition of 1,209 units in Colorado, Illinois and Ohio from West Loop Holdings, LLC.
Written by Elizabeth Ecker
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