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SOURCE Aviv REIT, Inc.
CHICAGO, March 20, 2013 /PRNewswire/ -- Aviv REIT, Inc. ("Aviv" or the "Company") announced today the pricing of its initial public offering of 13,200,000 shares of common stock at a public offering price of $20.00 per share. The shares are expected to begin trading March 21, 2013 on the New York Stock Exchange under the symbol "AVIV", and the offering is expected to close on March 26, 2013. The underwriters have the option to purchase up to an additional 1,980,000 shares of common stock to cover overallotments, if any.
The Company intends to use the net proceeds from the offering to repay certain indebtedness and to use the remainder for general corporate purposes, including the potential acquisition of additional properties in the ordinary course of business.
Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers of the offering, and Citigroup, RBC Capital Markets, SunTrust Robinson Humphrey, RBS and CSCA will act as co-managers. The offering is made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from Morgan Stanley & Co. LLC at 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department, or by email at email@example.com, or by calling 866-718-1649, BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by email at firstname.lastname@example.org, and Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus Department, or by email at email@example.com, or by calling 1-866-471-2526, or by facsimile at 212-902-9316.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Aviv REIT, Inc., based in Chicago, is a real estate investment trust that specializes in owning post-acute and long-term care skilled nursing facilities and other healthcare properties. Aviv is one of the largest owners of SNFs in the United States and has been in the business for over 30 years. The Company currently owns 258 properties that are triple-net leased to 38 operators in 29 states.
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