Comrit Launches Third Tender Offer for Shares of CNL Healthcare Properties

Comrit Investments 1 LP, a Tel Aviv-based investment fund has launched a new tender offer for shares of CNL Healthcare Properties, Inc., a non-traded real estate investment trust focused on senior housing.

Comrit is offering to purchase up to 8.8 million shares of the REIT’s common stock at a price of $3.94 per share. In a letter to shareholders, Comrit announced the offer expires on March 6, 2024.

CNL Healthcare estimated its per share value at $6.92 as of Dec. 31, 2022. It may publish an update to its estimated per share NAV during the period in which the tender offer is open.

As The DI Wire previously reported, Comrit made a tender offer in May 2023 and then again in July 2023. The July proposal included Comrit offering to purchase up to 8.8 million shares of common stock of the company at a price of $4.11 per share. The offer resulted in the tender by shareholders, and acceptance for payment by the Comrit, of approximately 675,349 shares. Securities and Exchange Commission documentation showed that Comrit then owned an aggregate of approximately 3,169,029 shares, or approximately 1.8% of the total outstanding shares.

CNL Healthcare Properties is a non-traded REIT that seeks to provide income and growth. Drawing upon its management team’s prior seniors housing experience, extensive healthcare operating knowledge and strong relationships with leading operators, the company has acquired and developed a portfolio of seniors housing and healthcare properties.

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