Orlando, Fla., Aug. 31, 2017 (GLOBE NEWSWIRE) -- CNL Healthcare Properties II, a real estate investment trust (REIT) focused on seniors housing and healthcare properties, has crossed $20 million in sales of its Class A, Class T and Class I common stock. Reaching this sales threshold allows the REIT to meet the minimum requirements to expand sales to Washington and Ohio, making the investment now available to residents in every state but Pennsylvania.
“CNL Financial Group has a deep and well-defined history in healthcare and seniors housing real estate investing, and we are pleased to now be able to offer our equity securities in both Washington and Ohio,” said Stephen H. Mauldin, CEO of CNL Healthcare Properties II. “Investors in these two states have historically been important components of shareholder bases in other CNL-sponsored funds and we look forward to enhanced momentum as we continue to launch and grow our newest healthcare enterprise.”
CNL Healthcare Properties II acquired its first property in March 2017, a newly built seniors housing community in Pensacola, Florida, that was 100 percent occupied as of June 30, 2017.
Over the last 15 years, CNL Financial Group has been especially active in the seniors housing and healthcare sector. As of June 30, 2017, CNL-sponsored companies have invested in seniors housing and healthcare real estate investments valued at more than $10 billion collectively.
Please review the prospectus for CNL Healthcare Properties II and the company’s filings with the Securities and Exchange Commission for complete details. This information is derived from the issuer’s public filings and does not replace or supersede any information provided therein.
About CNL Healthcare Properties II
CNL Healthcare Properties II intends to qualify as a real estate investment trust (REIT) for federal income tax purposes beginning with the year ending Dec. 31, 2017, or the first year in which it commences material operations. Based in Orlando Florida, CNL Healthcare Properties II intends to invest in the seniors housing, medical office, acute care and post-acute care sectors. For more information, visit cnlhealthcarepropertiesii.com.
About CNL Financial Group
CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.