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American Healthcare REIT Aims for $700M Raise in IPO

American Healthcare REIT Aims for $700M Raise in IPO

American Healthcare REIT aims to launch its $700 million IPO on the NYSE as soon as this week, according to a Bloomberg report, after initially planning to list in 2022.

American Healthcare, based in Irvine, CA, is a non-traded REIT that owns around 300 senior housing and assisted living properties, primarily in the Midwest and Sunbelt regions. The properties’ total enterprise value is estimated to be $4.6 billion.

The listing is part of a developing IPO market comeback, which includes KKR-backed BrightSpring Health Services’ anticipated $1.36 billion offering.

The IPO proceeds will be used to reduce debt and acquire more properties.

The IPO will be managed by Bank of America Corp., Morgan Stanley, KeyBanc Capital Markets, and Citigroup Inc.

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American Healthcare REIT

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.