Sentio Healthcare Properties Declares $12.45 NAV Per Share

Sentio Healthcare Properties Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors approved an updated estimated net asset value of $12.45 per share, as of December 31, 2015. Shares in the initial public offering were originally sold for $10.00 each.

The new NAV represents a 7 percent increase over the previous NAV approved in February 2014 of $11.63 per share.

The estimate was calculated by aggregating the appraised value of the individual real estate assets and the estimated fair value of the other assets, subtracting the liabilities, and dividing the total by the number of common shares outstanding. The company engaged HealthTrust LLC, an independent third-party commercial real estate valuation firm, to appraise all of its real estate assets.

Sentio Healthcare Properties closed its initial public offering in February 2011 after raising $123.9 million in investor equity. The company also raised $8.4 million in a follow-on offering that closed in June 2013, and continues to offer shares to existing stockholders through their distribution reinvestment plan.

Sentio Healthcare Properties invests in senior living properties, triple net leased healthcare properties and medical office buildings. The company purchased its first property in January 2009, and currently owns interests in 34 properties.