NRF, Griffin-American Said to Be in Talks

NEW YORK CITY—NorthStar Realty Finance Corp., which earlier this month completed the spinoff of its asset management business, reportedly is in exclusive talks to acquire Griffin-American Healthcare REIT II. A cash-and-stock deal would value the non-traded REIT at between $3.7 billion and $4 billion, the Financial Times reported late Tuesday afternoon. The Wall Street Journal cited a value of $3.5 billion to $3.7 billion Wednesday morning.

The FT and WSJ, as well as Bloomberg, quoted unnamed sources said to be familiar with the matter. A spokeswoman for Griffin Capital Corp., the REIT’s cosponsor, declined to comment, while GlobeSt.com’s calls to NRF were not returned by deadline early Wednesday afternoon.