Real estate financing company NorthStar Realty Finance Corp said it would purchase Griffin-American Healthcare REIT II Inc for $3.35 billion to expand in the healthcare real estate sector.NorthStar has been adding healthcare properties to its portfolio and the Griffin-American deal marks its second acquisition in the sector this year.The company had earlier bought 43 private-pay senior housing facilities and 37 skilled nursing facilities for about $1.1 billion from Formation Capital and Safanad Limited.NorthStar will pay Griffin-American shareholders $7.75 per share in cash and $3.75 per share in NorthStar common stock for each Griffin-American share they own, NorthStar said.
NorthStar Realty Finance Corp. is an internally managed real estate finance company. Shares of NRF traded higher by 4.71% or $0.76/share to $16.90. 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 2789973.
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