NorthStar Realty Finance Corp. said on Tuesday it would acquire Griffin-American Healthcare REIT II Inc. for about $3.4 billion in cash and stock. The deal would enlarge NorthStar’s investment in the health care real estate sector.
As part of the agreement, NorthStar would pay Griffin-American stockholders $7.75 per share in cash and $3.75 per share in NorthStar stock in exchange for each Griffin-American share. NorthStar would also assume $600 million in Griffin-American debt.
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