American Healthcare REIT is seeking to raise up to $840 million through its initial public offering. The nontraded REIT, based in Irvine, plans to offer 56 million shares at an estimated price range of $12 to $15 per share. Additionally, the IPO’s underwriters have been granted the option of purchasing up to 8.4 million additional shares.
The company has received approval from the New York Stock Exchange and will be listed under the symbol AHR. Formerly known as Griffin-American Healthcare REIT IV, this self-managed REIT filed a registration statement with the SEC in September 2022.
As of Tuesday’s market close, there is no set timing for when the IPO will officially close and begin trading on NYSE. BofA Securities and Morgan Stanley are serving as lead book-running managers for this offering while KeyBanc Capital Markets, Citigroup RBC Capital Markets Barclays Truist Securities are acting as bookrunners; JMP Securities A Citizens Company Fifth Third Securities Regions Security LLC Credit Agricole CIB serve as co-managers.
With a portfolio valued at $4.6 billion (as of Septemeber 30th), American Healthcare REIT owns properties across 36 states in addition United Kingdom & Isle Of Man – totaling approximately18 .9million square feet gross leasable area – consisting primarily senior health campuses integrated into buildings spanning over298 locations.
