NorthStar Healthcare Successfully Completes Offering
New York, NY (December 29, 2015) – NorthStar Healthcare Income, Inc. (NorthStar Healthcare), a publicly registered, non-traded real estate investment trust (REIT) sponsored by NorthStar Asset Management Group Inc. (NYSE: NSAM) announced today that it has successfully completed its $700 million follow-on offering as of December 17, 2015, for a total capital raise of $1.8 billion fully completing the offering.
Since it commenced operations in 2013, NorthStar Healthcare has consistently delivered on its original objective to build a diversified portfolio of healthcare investments with a focus on the needs-driven senior housing sector, including independent living, assisted living, memory care and skilled nursing facilities and continuing care retirement communities. As of December 18, 2015, NorthStar Healthcare has invested in an approximately $2.8 billion healthcare real estate portfolio, including 35 equity investments with a total cost of $2.6 billion and four debt investments with a combined principal amount of $193.0 million.
"We are very pleased to announce the successful closing of NorthStar Healthcare’s $700 million follow-on offering and the completion of our total targeted capital raise of $1.8 billion. When we launched NorthStar Healthcare, we sought to provide investors an opportunity to capitalize on both the investment opportunity in this sector and NSAM’s leading presence in this marketplace,” commented Ron Jeanneault, Chief Executive Officer of NorthStar Healthcare. “We would like to thank all our broker-dealer partners, financial advisors and our shareholders for their confidence and support and we continue to be focused on delivering value to everyone.”