American Realty Capital Healthcare Trust II, Inc. Closes on its Seventh Property
American Realty Capital Healthcare Trust II, Inc. (ARC HT II) announced yesterday that its portfolio includes seven properties in seven states. The acquisitions total 134,275 rentable square feet and have a contract purchase price of $46.2 million, exclusive of closing costs. One of ARC HT II’s most recent acquisitions was the Greenville Health System Medical Office Building in Greenville, South Carolina. The building contains 21,603 rentable square feet and cost $4.3 million without closing costs.
ARC HT II’s Chief Executive Officer, Thomas P. D’Arcy, commented, “The entire American Realty Capital Healthcare team is incredibly excited with the progress we continue to make with ARC HT II. We have identified a broad pipeline of attractive investment opportunities which we look forward to adding to our strong existing asset base as we continue to grow our company.”
2014 looks to be a promising year for the publicly registered, non-traded REIT. The company also revealed that it has approximately $154.8 million of targeted acquisitions under executed purchase and sale agreements and they are all set to close in the first quarter of this year. Its expected portfolio assets would be composed of 82% medical office buildings, 9% seniors housing, 6% post-acute care, and 3% other healthcare real estate assets. The portfolio’s expected price is $201.0 million.
ARC HT II’s offering size is $1.7 billion and its offering period is open until February 14, 2015. According to a filing, as of October 30, 2013, the fund had raised just over $120 million.
