After its IPO, REIT pays down debt, will be selective about acquisitions
By John B. Mugford
As a result of its recent initial public offering (IPO), Irvine-based American Healthcare REIT (NYSE: AHR), which has been involved in the healthcare real estate (HRE) sector since 2009, was able to significantly reduce its floating rate debt.
According to Danny Prosky, president and CEO of the real estate investment trust (REIT), which began trading on the New York Stock Exchange on Feb. 7, tells HREI that it was a relief to finally have the long-awaited IPO completed and that the “primary goal” of doing so was to “de-lever our balance sheet materially.”
According to the firm’s officials, the REIT netted about
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