Offering Details

MAXIMUM OFFERING SIZE

$2 billion shares of Class A, Class T or Class I common stock

OFFERING PRICE PER SHARE1

Class A: $10.93
Class T: $10.50
Class I: $10.00

MINIMUM INVESTMENT

$5,000

ASSET FOCUS

Seniors housing, medical office, acute care, post-acute care and other income-producing real estate assets

GEOGRAPHIC FOCUS

United States, with the opportunity for limited international acquisitions

RETURN OBJECTIVE2

Income and growth
 

DISTRIBUTIONS3

Combination of cash and stock

 

ANNUALIZED DISTRIBUTION RATE3

Class A: 6.39% (5.27% cash; 1.12% stock)
Class T: 5.65% (4.49% cash; 1.16% stock)
Class I: 6.48% (5.26% cash; 1.22% stock)

DISTRIBUTION PAYMENT SCHEDULE3

Declared monthly and paid quarterly

 

 

DISTRIBUTION REINVESTMENT PRICE

Equal to the most current Net Asset Value (NAV) per share for each class

 

REDEMPTION PRICE4

Limited redemptions available based upon the estimated NAV per share

 

 

TAX FORM

1099-DIV

EXIT STRATEGY

While there are no assurances regarding the timing of a liquidity event, the board of directors will consider liquidity event options no later than 2023

FINANCIAL SUITABILITY STANDARDS

$250,000 net worth or $70,000 net worth and $70,000 annual gross income (excluding home, furnishings and personal automobiles). Some states may have additional standards. These states include, but are not limited to, AL, CA, IA, ID, KS, KY, MA, MO, ND, NE, NJ, NM, OR, PA and VT.

 

Read the prospectus, including the Risk Factors section, for full details.
1 As of Sept.19, 2017. Offering Prices are based on the estimated NAV per share for each class of the Company’s common stock plus applicable upfront selling commissions and dealer manager fees of 8.5% for A shares and 4.75% for T shares. Class I shares are sold without an upfront fee. The POP and estimated NAV do not represent market values, rather they are based upon appraisals and estimates that may be incorrect and may not be realized by the portfolio or investors.
2 There is no assurance this objective will be met.
3 There is no guarantee of future distributions or that distributions will be paid at all. Due to the high levels of investment costs and fees incurred during the REIT's initial phase, distributions will not be fully covered by cash flows from operating activities and will be paid from expense waivers, borrowings and offering proceeds. For the six months ended June 30, 2017, approximately 13 percent of cash distributions were covered by operating cash flow and 87 percent were funded by offering proceeds. For the year ended Dec. 31, 2016, distributions were not covered by operating cash flow and were 100 percent funded by offering proceeds. Distributions paid from sources other than operating cash flow, now and in the future, are not sustainable and can reduce investors’ overall return. Stock distributions not covered by revenues will cause the interest of later investors to be diluted as a result of distributions paid to earlier investors. Please see the REIT’s financial filings on SEC.gov to get a detailed view of the performance metrics.
4 In no event will more than 5 percent of the weighted average of all share classes of the outstanding shares be redeemed in any 12-month period. Redemption price is determined by the share redemption plan in the prospectus at the time of redemption. The REIT may modify, suspend or terminate the redemption plan at any time.