Sidley is representing American Healthcare REIT, Inc. (AHR), a publicly registered healthcare REIT, in connection with its entry into an option agreement to acquire all of the minority membership interest held by NorthStar Healthcare Income, Inc. (NHI) in Trilogy REIT Holdings, LLC (Trilogy Holdings) for a purchase price of up to US$260 million. Trilogy Holdings is a joint venture between AHR and NHI that owns an owner-operator of purpose-built integrated senior healthcare campuses in the United States. AHR may pay the option exercise price either entirely in cash or in a combination of cash and newly issued convertible preferred stock of AHR.
The Sidley team is led by Stephen B. Ballas (M&A and Private Equity) and Jason A. Friedhoff (REITs), as well as Anthony J. Friedman (M&A and Private Equity). The deal team also includes Kimberly L. Sheehan (M&A and Private Equity), Nicole C. Garrett and Daniel Raymer (Capital Markets).
The Sidley Tax team advising on the transaction is led by Christian Brause and Dustin R. Anderson. In addition, Edward F. Petrosky and Bartholomew Sheehan (Capital Markets) are AHR relationship partners.