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Comrit Investments Offers $13.07 Per Share of American Healthcare REIT Stock

Comrit Investments Offers $13.07 Per Share of American Healthcare REIT Stock. Alternative investments, American Healthcare REIT, medical office buildings, merger, MOB, NAV, real estate investment trust, REIT, Senior Housing
Comrit Investments Offers $13.07 Per Share of American Healthcare REIT Stock. Alternative investments, American Healthcare REIT, medical office buildings, merger, MOB, NAV, real estate investment trust, REIT, Senior Housing

The board of American Healthcare REIT Inc., a non-traded real estate investment trust focused on healthcare real estate assets, sent a letter to their shareholders announcing their neutrality regarding an unsolicited mini-tender offer from Comrit Investments 1 LP, a Tel Aviv-based investment fund.

Comrit is offering to purchase up to 306,044 shares of Class T and Class I common stock for $13.07 per share, or the equivalent of $3.27 per share prior to AHR’s one-for-four reverse stock split executed in November of last year.

The REIT’s most recent estimated net asset value per share for Class T and Class I common stock was $31.40 as of Dec. 31, 2022, making the Comrit offer approximately 58% less than the most recent NAV per share.

Shares of American Healthcare REIT most recently traded on LODAS Markets, previously known as Realto, for $18.00 and had a current bid of $15.00 per share as of publication time.

In August 2023, CMG Partners launched a tender offer to purchase up to 250,000 shares of Class T and Class I of AHR common stock for $8.50 per share.

As The DI Wire previously reported in September 2022, AHR filed a Form S-11 with the SEC, with plans for a proposed underwritten public offering connected with the potential listing of its common stock on the New York Stock Exchange.

American Healthcare REIT oversees a 19.1 million-square-foot portfolio of 300 medical office buildings, skilled nursing facilities and integrated senior health campuses located in 36 states, the United Kingdom and the Isle of Man, in addition to a real estate-related investment. The gross investment value of the portfolio is approximately $4.4 billion.

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