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Comrit Makes Tender Offer for Shares of NorthStar Healthcare Income

alternative investments, tender offer, Comrit Investments, NorthStar Healthcare Income, REIT, real estate investment trust

Comrit Investments 1 LP has launched a January 2024 unsolicited tender offer for shares of NorthStar Healthcare Income, Inc., a non-traded real estate investment trust that invests in senior housing properties.

Comrit is offering to purchase up to 9,350,000 shares of the REIT’s common stock at a price of $1.01 per share. The offers expire March 6, 2024.

The REIT established its estimated per share value at $2.64 on Nov. 9, 2023, representing its estimated value of its assets as of June 30, 2023, and based on public disclosure. NorthStar shareholders should consult the REIT’s public filings pursuant to the Securities Exchange Act of 1934 for any updates to its estimated per share value.

NorthStar Healthcare was formed to acquire, originate and asset manage a diversified portfolio of seniors housing properties, including independent living facilities, assisted living and memory care facilities located throughout the United States. In addition, the company also has made investments through non-controlling interests in joint ventures in a broader spectrum of healthcare real estate, including seniors housing properties, as well as skilled nursing and ancillary services businesses, located throughout the United States. It raised $2 billion in total gross proceeds from the sale of shares of common stock in its continuous, public offerings, including $232.6 million pursuant to its distribution reinvestment plan.

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