Reuters: ARC Healthcare in talks to buy healthcare REIT in $3.7B deal

|By:, SA News Editor

American Realty Capital Healthcare Trust (HCT) is in exclusive negotiations to acquire Griffin-American Healthcare REIT II in a deal that could value the latter at $3.7B, Reuters reports.

The figure is above Griffin-American's enterprise value of $3.4B and ARC Healthcare's market cap of $1.68B.

ARC Healthcare hopes to finalize an agreement in the next two weeks, although Griffin-American could still turn to other bidders that are interested.

Based in California, Griffin-American is a non-traded REIT that owns senior housing and nursing facilities, hospitals and other medicine-related properties in the U.S. and U.K.

ARC Healthcare is led by executive chairman Nick Schorsch, whose American Realty Capital Properties said on Friday that it has agreed to a sale-leaseback transaction for more than 500 Red Lobster restaurant properties.