NEW YORK (TheStreet) -- It seems as if Nick Schorsch, executive chairman of American Realty Capital and the CEO of American Realty Capital Properties (ARCP), has created the ultimate non-traded REIT mouse trap for creating full market liquidity. Over the course of just a few years, Schorsch and his team have reeled off six liquidity events consisting of public REIT listings, IPO's and portfolio sales. The latest event was on Monday, with the listing of American Realty Healthcare Capital Trust (HCT); it is having another listing next week on the NYSE, with the ticker NYRT.
American Realty Healthcare Capital Trust listed approximately 183 million share of common stock Monday morning on Nasdaq. The New York-based health care opened the first day of trading at $10.50 and the shares have stayed flat throughout the day.
HCT commenced raising money in August 2010 and over the course of the last three years the company has amassed a diversified portfolio of 141 properties -- over 7. 1 million square feet, in 27 states. While many of the newly listed non-traded REITs have been the "pure play" type (one asset class), HCT is unique in that the company has exposure in most all health care sectors including medical offices (51%), senior housing (30%) and hospital/post-acute care (19%).
HCT enters the public markets with some impressive portfolio statistics including a medical office portfolio that is 96% leased; a hospital portfolio that's 100% leased, and a senior housing portfolio that's 94% leased. The average-weighted remaining lease term for the portfolio is an impressive 10.7 years.