ARC Healthcare Trust II, which raised about $2.1 billion, acquired Adena Health Care Center (above) in Jackson, Ohio, in 2013.
(Photo courtesy of ARC)
Investment sales have resumed now that the
firm’s healthcare REITs have been cleared.
Sales of non-traded real estate investment trusts (REITs) sold under the sponsorship of New York-based American Realty Capital Properties Inc. (Nasdaq: ARCP) seem poised to recover now that most units of the company have been cleared of wrongdoing in an accounting scandal involving the parent company.
Not surprisingly, sales of shares in the non-traded REITs bearing the ARC name fell 58 percent earlier this month after the parent firm reported a first-half, $23 million accounting error that it said was intentionally left uncorrected by certain individuals. Quite a number of broker-dealers that had been selling ARC shares chose to temporarily halt those sales.
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