Investor Relations


NorthStar Healthcare Acquires 453 Unit Senior Housing Portfolio Located in Oregon and Washington

New York, NY (March 16, 2017) – NorthStar Healthcare Income, Inc. (NorthStar Healthcare) announced today that it has completed the acquisition of a 453-unit portfolio of five senior housing facilities located in Oregon and Washington for a total cost of $98.9 million, investing $28.4 million of capital.

The properties comprising this portfolio are stabilized, well-occupied and located in markets with strong demographics in western Oregon and central and northwest Washington. The facilities currently provide a mix of independent and assisted living services, with the potential to add memory care services to certain properties and a full continuum of care.

Bonaventure Senior Living a leading regional operator with 28 facilities under management throughout Oregon, Washington and Colorado, will continue to manage the portfolio.

In connection with the acquisition, NorthStar Healthcare obtained $72.5 million of non-recourse, financing with a 10-year term and a fixed interest rate of 4.66%.

“I am pleased with the purchase of this quality senior housing portfolio and our continued ability to source compelling investment opportunities for our shareholders. The strong in-place cash flow, combined with our efficient financing, is expected to generate stable returns while the conversion of certain units to memory care – which is a strategy we have effectively implemented for other assets in our portfolio – may provide significant upside” said Ron Jeanneault, chief executive officer and president of NorthStar Healthcare.

NorthStar Healthcare's portfolio consists of 70 investments with an aggregate total cost of $3.3 billion, including 66 equity investments with an aggregate total cost of $3.1 billion and three debt investments with an aggregate principal amount of $147.1 million as of September 30, 2016.

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