
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.