NorthStar Realty Finance Corp said it would buy 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.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Simon Jennings)