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NEW YORK — American Realty Capital Healthcare Trust II Inc., a non-traded real estate investment trust (REIT) that invests mostly in healthcare facilities like medical office buildings and seniors housing properties, has completed its $2.1 billion non-listed, initial public offering (IPO). The company has invested approximately $1.84 billion in healthcare properties through Dec. 31, 2014, including those under contract. ARC Healthcare Trust II expects to deploy all of the net proceeds available for investment by the end of the first quarter of 2015. “We would like to thank our broker dealer partners and the thousands of financial advisers for the confidence they have shown in us through their support of the capital raise,” says Thomas D’Arcy, CEO of ARC Healthcare Trust II. “We believe the depth and experience of the entire ARC Healthcare Trust II team, coupled with our deep relationships within the healthcare industry, have played a key part in the company’s ability to deploy capital in a disciplined and highly effective manner.” The company had registered a maximum 82.7 million shares of its common stock, or $2.1 billion, including shares registered under the company’s distribution reinvestment plan (DRIP) based on its public offering price of $25 per share …

NEWTON, MASS. — Senior Housing Properties Trust (NYSE: SNH) has entered into an agreement with CNL Lifestyle Properties Inc. to purchase 38 seniors housing communities for approximately $790 million. The 38 communities have 3,466 total living units, including 826 independent living units, 1,860 assisted living units, 744 memory-care units and 36 skilled nursing beds. “We are very pleased to acquire such a high-quality portfolio of private-pay senior living communities,” says David Hegarty, president and COO of SNH. “Upon closing of the acquisition of these 38 communities, approximately 56 percent of SNH’s consolidated net operating income will come from senior living properties.” In addition, says Hegarty, rents from Newton, Massachusetts-based SNH’s largest tenant, Five Star Quality Care Inc., will now account for less than 20 percent of its annualized revenues. Eighteen of the 38 communities in the acquisition, with 1,847 living units, are currently leased to six seniors housing operators. These 18 communities are located in 12 states: four in California; two each in Georgia, Washington and Oregon; and one each in Alabama, Arizona, Colorado, Florida, Indiana, Montana, North Carolina and Rhode Island. Six senior living operators currently manage the remaining 20 communities, with 1,619 living units. These 20 managed communities …

DALLAS AND PARSIPPANY, N.J. — Ashford Hospitality Trust Inc. (NYSE: AHT) and Prudential Real Estate Investors (PREI) have signed a definitive agreement in which Ashford Trust will acquire the remaining 28.3 percent ownership interest of the 28-hotel Highland Hospitality portfolio from its joint venture partner, a value-add fund managed by PREI. Ashford Trust currently has a 71.7 percent ownership interest in the joint venture. The expected total transaction value is $1.73 billion, or $215,000 per key. The portfolio includes 19 full-service hotels and nine select-service hotels with a concentration in major brands such as Hilton, Marriott, Hyatt and Starwood. The purchase of the PREI-managed fund’s interest will be made by a cash payment of $250.1 million. Ashford Trust’s buyout will be funded with cash and is expected to be completed sometime during the first quarter of 2015, simultaneous with an anticipated refinancing of the Highland portfolio. “We are very pleased to acquire the remaining ownership interest of this high-quality hotel portfolio whose performance has well exceeded our expectations,” says Monty Bennett, Ashford Trust’s chairman and CEO. “With the strong hotel fundamentals the industry is experiencing, we expect to benefit from further upside in this portfolio and believe this as a …

LONDON — InterContinental Hotels Group (NYSE: IHG) has agreed to acquire Kimpton Hotels & Restaurants (Kimpton) for $430 million in cash, creating the world’s largest boutique hotel business. Kimpton manages 62 hotels in 28 cities, including Hotel Palomar locations in Phoenix, Los Angeles and Washington; and Hotel Wilshire in Los Angeles, with 16 more in the development pipeline. The 16 hotels will include 3,000 rooms, and 10 hotels are already under construction. The company operates 71 hotel-based destination restaurants, bars and lounges. Kimpton is widely regarded as a sophisticated food and beverage operator. “Kimpton has created a portfolio of world-class hotels and destination restaurants, and the distinctive and innovative Kimpton brand will fit perfectly into the IHG brand family,” says Richard Solomons, CEO of IHG. “Adding Kimpton to our portfolio of preferred brands creates the world’s largest boutique hotel business.” Following the transaction, IHG plans to capitalize on its scale, global owner networks, digital platforms and specialist capabilities of building preferred brands to enhance Kimpton’s growth globally. According to a release, there is a significant opportunity to expand the brand in Europe and Asia where there is strong demand for boutique brands. San Francisco-based Kimpton has achieved 4 percent growth …

LOS ANGELES — In a massive deal, Hudson Pacific Properties Inc. (NYSE: HPP) has entered into a definitive asset purchase agreement to acquire the Equity Office Properties San Francisco Peninsula and Silicon Valley office portfolio from Blackstone Real Estate Partners V and VI. The stock and cash transaction is valued at $3.5 billion. The Equity Office Properties portfolio includes more than two dozen properties located in cities such as San Jose, Palo Alto, Burlingame and Redwood City, and totals approximately 8.2 million square feet. The portfolio’s occupancy and rents are approximately 10 percent and 15 percent below market, respectively, with approximately 60 percent of the leased square footage expiring by the end of 2017. The expiration of the leased properties will afford Hudson the opportunity to gain “substantial embedded net operating income growth,” according to the company. Los Angeles-based Hudson believes the deal will help position it as a leading West Coast office REIT. Following the deal’s closing, Hudson, which will effectively double in size, is expected to have an equity market capitalization of $3.7 billion and total enterprise value of approximately $6.5 billion. The purchase brings together two office portfolios with a combined asset base of 53 properties totaling …

NEW YORK — SL Green Realty Corp. (NYSE: SLG), New York City’s largest commercial property owner, and Prudential Real Estate Investors, the real estate investment management and advisory business of Prudential Financial Inc. (NYSE: PRU), have formed a joint venture for the ownership of condominium units at Tower 46, located at 55 W. 46th St. in Manhattan. The units span 347,000 square feet with office space on floors two and 22-34 and retail space at grade on 46th Street. SL Green announced its acquisition of the Class A asset for $295 million in September and completed that transaction in October. A fund managed by PREI on behalf of institutional investors now owns a 75 percent stake under the terms of the new joint venture, with SL Green keeping 25 percent ownership and retaining management and leasing responsibilities. “Prudential, our longtime partner at 100 Park Ave., shared our vision for this prime Midtown asset,” says Isaac Zion, co-chief investment officer of SL Green. “We are delighted to be partnering with them once again and look forward to creating value together.” Skidmore Owings & Merrill designed the tower, which was completed in 2013. The glass and steel structure features floor-to-ceiling windows on …