Diversified commercial real estate investment company NorthStar Realty Finance Corp. (NYSE: NRF) said Aug. 5 that it plans to acquire Griffin-American Healthcare REIT II, Inc., a public, non-listed REIT (PNLR), in a stock and cash transaction totaling $ 4 billion.
The transaction is expected to close in the fourth quarter. Under the terms of the deal, Griffin-American stockholders will receive $ 7.75 per share in cash and $ 3.75 per share in NorthStar Realty common stock. As part of the deal, NorthStar would assume $ 600 million in debt from Griffin-American.