A cross-practice team of McGuireWoods partners from the firm’s Atlanta,
Baltimore and Richmond offices advised the special committee of Griffin-American
Healthcare REIT II Inc. in its recent $4 billion merger transaction with
NorthStar Realty Corp.
Boards of directors of both companies unanimously approved the deal on Aug.
5. Both companies’ shareholders must approve the transaction, which is expected
to close in the fourth quarter of 2014.
Under the agreement, Griffin-American stockholders would receive $7.75 per
share in cash and $3.75 per share in NorthStar Realty common stock, assuming the
stock price at closing is between $16 and $20.17 per share.
Based in Irvine, California, Griffin-American owns medical office buildings,
nursing homes and other healthcare-related properties.
"When we launched Griffin-American Healthcare REIT II nearly five years ago,
we set out to build a premium portfolio of diversified healthcare real estate in
order to provide investors with an opportunity to realize a compelling return on
their investment," said Griffin-American Chairman and CEO Jeff Hanson in
announcing the deal. "With this transaction, we have executed on our strategy,
validating our investment thesis and delivering a strong result for
The McGuireWoods team included Fred Isaf, Andrew Cataldo, Cliff
Cutchins, David Robertson, Bill Boland, and Cecil
Martin. Also involved were Les Werlin, Ben Ladd, Heather Arbogast, Laura
Veronica Jackson, Katherine DeLuca, and legal secretary Lechelle Thomas.
Read more media coverage of the transaction from the Wall Street Journal, Bloomberg Businessweek,
CBS MarketWatch, American Lawyer, Law.com and the New York Law Journal.