Article 2.01. Completion of acquisition or disposal of assets.
As stated previously, NorthStar Healthcare Income, Inc. (“NorthStar Health“), acting through subsidiaries of its operating partnership, entered into a portfolio acquisition contract (the” Purchase Agreement “) on November 1, 2021 sell a portfolio of 14 Independent Living, Assisted Living / Memory and / or Continuing Care Communities and related interests (collectively, the âFountains Portfolioâ), to subsidiaries of Welltower Inc. for $ 580 million, subject to certain adjustments and prorated closing (the âTransactionâ). At
December 1, 2021, NorthStar Healthcare successfully completed the Transaction and, after repayment of mortgage notes, transaction and other costs, distributions to non-controlling interests, releases of reserves and other pro rata, generated net proceeds of ‘about $ 117 million, subject to limited post-closing adjustments in accordance with the purchase contract.
NorthStar Healthcare has included in this current report on Form 8-K certain pro forma financial information relating to its disposal of the Fountains portfolio, as required by section 9.01 (b) of Form 8-K.
Article 9.01. Financial statements and supporting documents.
(b) Pro Forma Financial Information.
The unaudited pro forma consolidated balance sheet of NorthStar Healthcare as of
September 30, 2021 and the unaudited pro forma consolidated statements of earnings of NorthStar Healthcare for the nine-month period ended. September 30, 2021
and the year ended December 31, 2020 and the accompanying notes, each giving effect to the sale of the Fountains portfolio, are filed as Exhibit 99.1 to this current report on Form 8-K.
Exhibit No. Description
Unaudited Pro Forma Consolidated Financial Statements of NorthStar
99.1 Healthcare Income, Inc.
Cover Page Interactive Data File (embedded within the Inline XBRL
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