NorthStar Healthcare Income Shareholders OK Merger Agreement With Welltower

Welltower Inc. (NYSE:WELL) is one step closer today to acquiring NorthStar Healthcare Income Inc. – an internally managed, public, non-listed real estate investment trust that owns a diversified portfolio of senior housing properties located throughout the United States.

During a special virtual meeting, a majority of NorthStar stockholders considered and approved proposals related to the merger agreement with Welltower. As previously reported, the all-cash transaction has an approximate enterprise value of $900 million.

Under the terms of the merger agreement, NorthStar Healthcare’s stockholders will receive $3.03 per share in cash. This per share consideration exceeds the net asset value per share of $2.96 determined by NorthStar Healthcare’s board of directors as of June 30, 2024.

The merger agreement was unanimously approved by NorthStar’s board earlier this year.

The deal was anticipated to close this quarter, pending this shareholder approval and other customary closing conditions.

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