Irvine-based Griffin-American Healthcare REIT II, an owner of healthcare-related real estate properties, could be bought by NorthStar Realty Finance Corp. of New York, according to news reports.
A cash-and-stock deal would value the nontraded real estate investment trust at $3.5 billion to $3.7 billion, according to a report in the Wall Street Journal. Exclusive discussions between the two companies were reportedly scheduled to expire on Friday. If a deal wasn’t reached by then, Griffin-American could start talking to other bidders, according to the Wall Street Journal.
The REIT was founded in 2009 and has raised about $2.8 billion from investors. It owns more than 280 properties.
