NorthStar Realty Finance Corp said it would purchase Griffin-American Healthcare REIT II Inc for about $4 billion in cash and stock to expand into the healthcare real estate sector. According to the terms of the deal, Griffin-American shareholders will receive $7.75 per share in cash and $3.75 per share in NorthStar common stock for each Griffin-American share they own.The deal includes about $600 million in debt.Griffin-American, a non-traded REIT, owns senior housing and nursing facilities, hospitals, medical office buildings and other healthcare-related properties in the United States and Britain.
NorthStar Realty Finance Corp. is an internally managed real estate finance company. Shares of NRF fell by 0.86% or $-0.14/share to $16.14. In the past year, the shares have traded as low as $8.34 and as high as $17.60. On average, 6801430 shares of NRF exchange hands on a given day and today's volume is recorded at 2774928.
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