CNL Launches Public Offering for $2B Non-Traded REIT

by Jeff Shaw

ORLANDO, Fla. — The U.S. Securities and Exchange Commission (SEC) has approved the public offering of up to $2 billion for CNL Healthcare Properties II Inc.

CNL Financial Group, a private investment management firm based in Orlando, is launching the company and plans to structure it as a non-traded REIT.

The public offering includes three classes of shares ranging from $10 per share to $11.08 per share. Of the $2 billion offering size, $250 million in stock will be available through the distribution reinvestment plan.

CNL Healthcare Properties II plans to use offering proceeds to acquire and manage a diversified portfolio of real estate properties, primarily in the seniors housing, medical office, acute care and post-acute care markets. Targeted acquisitions will include stabilized, value-add and development properties, as well as other income-producing real estate and real estate-related securities and loans.

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