MoFo is advising NorthStar Healthcare Income, Inc., a public non-listed real estate investment trust that owns a diversified portfolio of senior housing properties, in its $900 million all-cash sale to an affiliate of Welltower Inc. (NYSE: WELL), a real estate investment trust that invests in healthcare infrastructure.
The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions, including approval by NorthStar Healthcare stockholders. The definitive agreement includes a 40-day “go-shop” period, which permits NorthStar Healthcare to actively solicit and consider alternative acquisition proposals from third parties during the period.
The MoFo team advising NorthStar Healthcare was led by Washington D.C. corporate partner Ali Connaughton and New York corporate partner Joe Sulzbach and Washington D.C. corporate associate Shams Haidari and New York corporate associate Sahana Ragunathan. The wider team included: (i) for corporate matters, Washington D.C. associates Christopher Rolle, Stephen Albrigo, Cameron Lakin; (ii) for executive compensation matters, New York partner Domnick Bozzetti and Palo Alto associate Yuan Xia and San Francisco associate Arton Falahati; (iii) for tax matters, San Diego partner Shane Shelley and New York partner Phil Jaworskyj and San Diego associates Kristie Espiritu.