CHICAGO, March 26, 2013 /PRNewswire/ -- Aviv REIT, Inc. ("Aviv" or the "Company") (NYSE: AVIV) announced today the closing of its previously announced initial public offering of 13,200,000 shares of common stock at a public offering price of $20.00 per share. Further, the underwriters of the offering exercised their overallotment option in full and purchased an additional 1,980,000 shares of common stock. Including the overallotment option, Aviv sold 15,180,000 shares in the offering and received net proceeds of approximately $278.8 million, after deducting underwriting discounts and commissions and estimated offering expenses. 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. acted as joint book-running managers of the offering, and Citigroup, RBC Capital Markets, SunTrust Robinson Humphrey, RBS and CSCA acted as co-managers. The offering was made only by means of a prospectus. Copies of the final 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 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.