NorthStar, meanwhile, has also been reshaping its portfolio. The senior housing REIT offloaded its stake in Trilogy REIT Holdings LLC to American Healthcare REIT Inc. for $254 million and finalized a $31.5 million sale of an independent living facility in Rochester, New York.
NorthStar Calls It a Win for Investors
NorthStar CEO Kendall Young hailed the deal as a major success for shareholders.
“We are pleased to have reached this agreement with Welltower, which is the culmination of these efforts and a great outcome for our stockholders, delivering a compelling, certain, cash value for their shares,” Young said.
Morrison Foerster LLP is advising NorthStar on the deal. Counsel for Welltower was not immediately available Thursday.
