NEW YORK, Aug. 8, 2012 /PRNewswire/ -- NorthStar Healthcare Income, Inc. (NorthStar Healthcare) announced today that its registration statement related to its initial public offering of $1.1 billion of its common stock has been declared effective by the U.S. Securities and Exchange Commission. NorthStar Healthcare is a public, non-traded real estate investment trust (REIT) formed to originate, acquire and asset manage a diversified portfolio of debt and equity investments in the healthcare real estate sector.
NorthStar Healthcare intends to use the proceeds of the offering to build a diverse investment portfolio with a focus on the mid-acuity senior housing sector, which includes assisted living, memory care, skilled nursing and independent living facilities, that have an emphasis on private pay patients. NorthStar Healthcare is offering 100 million shares of its common stock at $10.00 per share and an additional 10 million shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share.
NorthStar Realty Securities, LLC (member FINRA/SIPC) is the dealer manager for the NorthStar Healthcare Income, Inc. offering. A copy of the prospectus for the offering is available by contacting NorthStar Realty Securities, LLC, at 877-940-8777 or 5299 DTC Blvd., Suite 900, Greenwood Village, CO 80111 or by visiting NorthStar Healthcare's website at www.northstarreit.com/healthcare.
This press release is neither an offer to sell nor a solicitation of an offer to buy securities. An offering is made only by the prospectus. This press release must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the Securities and Exchange Commission, the Attorney-General of the State of New York nor any other state securities regulator has approved or disapproved of our common stock, determined if the prospectus is truthful or complete or passed on or endorsed the merits of the offering. Any representation to the contrary is a criminal offense.
SOURCE NorthStar Healthcare Income, Inc.