NorthStar Realty to Buy Griffin-American Healthcare REIT for $4B


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.

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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)