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SOURCE Aviv REIT, Inc.
CHICAGO, March 11, 2013 /PRNewswire/ -- Aviv REIT, Inc. ("Aviv" or the "Company") announced today that it has commenced an initial public offering of 13,200,000 shares of its common stock. The estimated price range of the common stock is between $18.00 and $20.00 per share. 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's common stock has been approved for listing on the New York Stock Exchange under the symbol "AVIV."
The Company intends to use the net proceeds from the offering to repay certain indebtedness and 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 firstname.lastname@example.org, or by calling 866-718-1649, BofA Merrill Lynch at 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or by email at email@example.com, and Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus Department, or by email at firstname.lastname@example.org, or by calling 1-866-471-2526, or by facsimile at 212-902-9316.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. 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 privately-owned 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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