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American Realty Capital Healthcare Trust II Nabs a 14-Property Portfolio

Hot on the heels of a recent acquisition of 12 senior housing communities, non-traded REIT, American Realty Capital Healthcare Trust II (ARC Healthcare II) has upped the ante by acquiring another portfolio consisting of 14 senior housing communities.

Purchased for $90.2 million, the properties are located in Michigan and Illinois and contain an aggregate 493,276 rentable square feet. The portfolio is 100% leased to 14 affiliates of Meridian Senior Living, LLC.

The 14 buildings are;

  • Buchanan Meadows in Buchanan, MI
  • Crystal Springs in Grand Rapids, MI
  • Golden Orchards in Fennville, MI
  • Lakeside Vista in Holland, MI
  • Liberty Court in Dixon, IL
  • Prestige Centre in Mount Pleasant, MI
  • Prestige Commons in Chesterfield Township, MI
  • Prestige Pines in DeWitt, MI
  • Prestige Place in Clare, MI
  • Prestige Pointe in Grand Blanc, MI
  • Prestige Way in Holt, MI
  • The Atrium in Rockford, IL
  • Waldon Woods in Wyoming, MI
  • Whispering Woods in Grand Rapids, MI

ARC Healthcare II commenced real estate operations in May of 2013 with a focus on healthcare-related assets such as medical office buildings and senior housing. While still open to new investors, ARC Healthcare II’s dealer-manager, Realty Capital Securities, issued an email to broker-dealers and financial advisors affiliated with the company’s selling group on August 22, 2014, informing them that the offering is expected to close in the next 30-60 days as ARC Healthcare II has raised $1.865 billion toward its approximate $2.05 billion offering of common stock.