AR Global’s Healthcare Trust Amends Share Repurchase Date
The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has amended the company’s existing share repurchase program to change the date on which repurchases will be made.
The board of Healthcare Trust Inc., a publicly registered non-traded real estate investment trust sponsored by AR Global, has amended the company’s existing share repurchase program to change the date on which repurchases will be made.
For share repurchase requests made during the period beginning on March 13, 2018 and ending on December 31, 2018, proceeds will be distributed no later than April 30, 2019. Previously, the company planned to distribute proceeds by March 31, 2019. DST Systems serves as the transfer agent for Healthcare Trust.
AR Global did not respond to The DI Wire’s request for an explanation in regards to the change.
Healthcare Trust invests in multi-tenant medical office buildings and owns a portfolio of 196 properties with a total purchase price of $2.6 billion as of the third quarter of 2018, according to Summit Investment Research. The company’s primary offering was declared effective by the SEC in February 2013 and closed in November 2014 after raising $2.2 billion in investor equity.
Healthcare Trust has a $20.25 net asset value per share for the company’s common stock as of December 31, 2017. Shares were originally sold for $25.00 each.
