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Potential Sale of this Non-Traded REIT?

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Griffin-American Healthcare REIT II, the non-traded REIT co-sponsored by Griffin Capital Corporation and American Healthcare Investors, may be purchased by one of four bidders, reports the Wall Street Journal (WSJ). A spokesperson for Griffin Capital declined to comment on the WSJ’s article.

According to the report published yesterday, the four finalists are Ventas Inc., Healthcare REIT Inc., American Realty Capital Healthcare Trust, and a division of Northstar Realty Finance Corp.

A deal, valued at $3.7 billion, is cautiously expected to be finalized in the next two weeks.

Launched in 2009, Griffin-American Healthcare REIT II raised about $2.8 billion in investor equity before closing to new investors in 2013. It has a diverse portfolio of healthcare-related real estate assets, which include medical office buildings, senior housing facilities, hospitals, and skilled nursing facilities.