NEW YORK — American Realty Capital Healthcare Trust II Inc., currently a non-traded real estate investment trust (REIT), plans to file an application to list its common stock on a national stock exchange. Subject to approval, the company expects its common stock to begin trading during the third quarter of 2015. Concurrent with the listing, the company intends to change its name to Healthcare Trust Inc. and list on the market as “HTI.”
Finance
Many appraisal districts across the country will re-start the appraisal process on all properties in their respective locations at the start of the new year. A vast majority of these appraisers are trained to value the most common property types in their jurisdictions such as office, multi-family, retail, etc.; however, the seniors living valuation methodologies are not part of the appraisal district’s strong suit. Inaccurate property valuations result when districts are unfamiliar with the senior housing market overall. The more services offered at these facilities unrelated to real estate often …
COPPERAS COVE, HARKER HEIGHTS and KILLEEN, TEXAS — KeyBank Real Estate Capital has arranged a total of $26.7 million in FHA financing for a three-property, long-term care portfolio in Texas. Two of the properties are skilled nursing facilities and one is a combination skilled nursing and assisted living facility.
HUNT VALLEY, Md. — Omega Healthcare Investors Inc. (NYSE:OHI) has priced a private offering of $700 million aggregate principal amount of 4.50 percent senior notes due 2027 at 98.546 percent of face value. The offering is expected to close on March 18, subject to customary closing conditions.
TOLEDO, Ohio — Fitch Ratings has raised the corporate credit rating of Health Care REIT Inc. (NYSE:HCN) to BBB+ with a stable outlook from BBB. The report cites the company’s private pay portfolio in strong demographic areas and relationship investing strategy, ability to generate steady cash flow growth and improving credit metrics for the upgrade.
Lancaster Pollard has refinanced $23.2 million fixed-rate, taxable notes insured by the FHA Sec. 232/233(f) Program and a $5.3 million bridge-to-agency loan, provided by the firm, for two properties: Marina Bay, a 167-bed skilled nursing facility in Quincy, Mass., and West Acres, a 138-bed skilled nursing facility in Brockton, Mass.
HUNT VALLEY, Md. — Omega Healthcare Investors Inc. (NYSE: OHI) has declared a prorated dividend of 36 cents per share of Omega’s common stock in view of the pending acquisition of Aviv REIT Inc. (NYSE: AVIV), pursuant to a merger of Aviv with and into a wholly owned subsidiary of Omega.
TOLEDO, Ohio — Health Care REIT Inc. (NYSE: HCN) has completed its underwritten public offering of 17 million shares of common stock at $75.50 per share. HCN granted the underwriters an option to purchase up to an additional 2.5 million shares during the next 30 days.