New REIT has focus on seniors housing

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A new real estate investment trust, CNL Healthcare Properties II, can begin an initial public offering of up to $2 billion in common stock after being declared effective by the U.S. Securities and Exchange Commission.

The REIT expects to offer three classes of shares, ranging from $10 to $11.08 per share, in a publicly registered, non-traded offering. Of the $2 billion offering size, $250 million in stock will be available through the distribution reinvestment plan.

CNL Healthcare Properties II plans to use offering proceeds to acquire and manage a diversified portfolio of real estate properties, primarily in the seniors housing, medical office, acute care and post-acute care markets, and intends to include stabilized, value add and development properties, as well as other income-producing real estate and real estate-related securities and loans.

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