CNL Healthcare Properties II Inc. filed a post-effective amendment to its Form S-11 registration statement for a best-efforts offering of a maximum of $2.0 billion and a minimum of $2.0 million of its common stock, consisting of class A, class T or class I shares.
The prospectus covers up to $1.75 billion in shares to be sold in the company's primary offering and up to $250.0 million in shares to be sold pursuant to its distribution reinvestment plan. The company said subscription funds will be held in escrow and the offering will terminate unless it sells $2.0 million in shares.
The continuous offering will end no later than two years from the Oct. 6 date of the prospectus, unless extended. The post-effective amendment delays the effective date until a yet-to-be-determined date.
The company expects to invest about 95.24% of the primary offering's gross proceeds to acquire real property, debt and other investments, and to pay related fees and expenses.
The Maryland corporation is a company formed to focus primarily on purchasing properties located primarily in the U.S. within the seniors housing, medical office building, acute care and post-acute care facility sectors, including stabilized, value add and development properties, as well as other types of real estate and real estate-related securities and loans.
Sponsored by CNL Financial Group LLC, the company seeks to qualify as a REIT commencing with the taxable year in which it achieves the minimum offering requirement or its first year of material operations, which it expects to be the year ending Dec. 31.
CNL Securities Corp. is the dealer manager for the offering.