American Realty Capital Healthcare Trust II Nabs a 14-Property Portfolio
Hot on the heels of a recent acquisition of 12 senior housing communities, non-traded REIT, American Realty Capital Healthcare Trust II (ARC Healthcare II) has upped the ante by acquiring another portfolio consisting of 14 senior housing communities.
Purchased for $90.2 million, the properties are located in Michigan and Illinois and contain an aggregate 493,276 rentable square feet. The portfolio is 100% leased to 14 affiliates of Meridian Senior Living, LLC.
The 14 buildings are;
- Buchanan Meadows in Buchanan, MI
- Crystal Springs in Grand Rapids, MI
- Golden Orchards in Fennville, MI
- Lakeside Vista in Holland, MI
- Liberty Court in Dixon, IL
- Prestige Centre in Mount Pleasant, MI
- Prestige Commons in Chesterfield Township, MI
- Prestige Pines in DeWitt, MI
- Prestige Place in Clare, MI
- Prestige Pointe in Grand Blanc, MI
- Prestige Way in Holt, MI
- The Atrium in Rockford, IL
- Waldon Woods in Wyoming, MI
- Whispering Woods in Grand Rapids, MI
ARC Healthcare II commenced real estate operations in May of 2013 with a focus on healthcare-related assets such as medical office buildings and senior housing. While still open to new investors, ARC Healthcare II’s dealer-manager, Realty Capital Securities, issued an email to broker-dealers and financial advisors affiliated with the company’s selling group on August 22, 2014, informing them that the offering is expected to close in the next 30-60 days as ARC Healthcare II has raised $1.865 billion toward its approximate $2.05 billion offering of common stock.
