ARCHT to List on National Stock Exchange
- Dec 10, 2013
American Realty Capital Healthcare Trust Inc., of New York, will apply to list its common stock on an unspecified national stock exchange (under the symbol HCT), the REIT announced Friday. The listing is expected to take place in the first quarter of the new year.
“Our management team has worked hard and long to build the best portfolio of healthcare real estate assets,” ARCHT CEO Thomas D’Arcy said in a prepared statement. “We have purchased these properties at the right time in the real estate cycle, buying strong locations around the nation with creditworthy tenants, and have built a diversified pool of medical office buildings, hospitals and senior living facilities. We believe the public traded markets will be very receptive to an offering of this sort.”
The decision by the ARCHT board was made in consultation with the REIT’s financial advisors, Merrill Lynch, Pierce, Fenner & Smith Inc. and RCS Capital, a division of Realty Capital Securities L.L.C.
No further information about the situation was disclosed or available as of press time.
ARCHT’s main investment focus is income-producing medical facilities, including medical office buildings, ambulatory-care centers, hospitals, skilled nursing facilities,
seniors housing, and research and life science centers.
Commercial Property Executive reported in mid-August that ARC Healthcare was part of a $2.3 billion acquisition by three REITs sponsored by AR Capital, New York, of a 16.5 million-square-foot portfolio from Inland American Real Estate Trust Inc. The healthcare REIT’s share of that, for $122.5 million, was a four-building portfolio 100 percent net-leased to UnitedHealth, which uses the four buildings as its regional headquarters in Cypress, Calif.; Indianapolis; and Onalaska and Wauwatosa, Wis.
More recently, in late September ARCHT closed on a $170.9 million acquisition of fee simple and leasehold interests in a portfolio of 11 medical office buildings in Buckeye, Ariz.; Aventura and Tallahassee, Fla.; Fort Wayne, Ind. (two properties); Guilderland, N.Y.; Springfield, Pa. (three properties); Spartanburg, S.C.; and Richmond, Va. The properties total 639,300 rentable square feet and are 96.3 percent leased.
And in early October, ARCHT completed the acquisition of two seniors housing properties, in Asheville, N.C., and Decatur, Ga., for an aggregate contract price of $42.2 million.