Attached files
file | filename |
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EX-10.1 - EX-10.1 - Sentio Healthcare Properties Inc | v195160_ex10-1.htm |
EX-10.2 - EX-10.2 - Sentio Healthcare Properties Inc | v195160_ex10-2.htm |
EX-99.1 - EX-99.1 - Sentio Healthcare Properties Inc | v195160_ex99-1.htm |
EX-10.3 - EX-10.3 - Sentio Healthcare Properties Inc | v195160_ex10-3.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported):
August
19, 2010
CORNERSTONE
HEALTHCARE PLUS REIT, INC.
(Exact
name of registrant as specified in its charter)
Maryland
|
000-53969
|
20-5721212
|
(State or Other Jurisdiction of Incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification
Number)
|
1920
Main Street, Suite 400
Irvine,
California 92614
(Address
of principal executive offices)
(949)
852-1007
(Registrant’s
telephone number, including area code)
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
provisions.
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14d-2(b)
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)
|
ITEM
1.01
|
ENTRY
INTO MATERIAL DEFINITIVE
AGREEMENT
|
The
information in this Report set forth under Items 2.01 is incorporated herein by
reference.
ITEM
2.01
|
COMPLETION
OF ACQUISITION OR DISPOSITION OF
ASSETS
|
On August
19, 2010, through a wholly-owned subsidiary, we purchased an Inpatient
Rehabilitation Facility (“IRF”), Global Rehab Inpatient Rehab Facility (the
“Facility”), located in Dallas, TX from The Cirrus Group, a non-related party,
for a purchase price of approximately $14.8 million. The acquisition was funded
with proceeds raised from our ongoing public offering.
The
Facility is approximately 40,000 square feet, with 42 beds, constructed in 2008
and is triple net leased to GlobalRehab, LP (“GlobalRehab”) through February
2024, with two additional five year renewal options. The Facility is
GlobalRehab’s second IRF and currently has approximately 30 physician
partner-owners and over 150 physicians on staff actively referring
patients.
The
Facility is centrally located in Dallas with close proximity to major medical
centers. The primary referral sources are discharges from UT
Southwestern Medical Center and Parkland Memorial Hospital. Both are
large hospitals in the Dallas medical center, approximately 2.5 miles southeast
of the Facility. In addition, several other hospitals in the medical center that
have their own are active referral sources for the Facility due to either
capacity or physician preference.
ITEM 9.01
|
FINANCIAL
STATEMENTS AND EXHIBITS
|
(a)
|
Financial
statements of businesses acquired. Audited financial
statements for GlobalRehab, LP will be filed by amendment to this Form 8-K
no later than November 2, 2010.
|
(b)
|
Pro
forma financial information. Unaudited pro forma financial
information will be filed by amendment to this Form 8-K no later than
November 2, 2010.
|
(d)
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Exhibits.
|
10.1
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Purchase
and Sale Agreement, by and between Global Rehab Dallas, LP, a Delaware
limited partnership and GR IRF I, LP, a Texas limited partnership, dated
July 19, 2010
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10.2
|
First
Amendment to Purchase and Sale Agreement, by and between Global Rehab
Dallas, LP, a Delaware limited partnership and GR IRF I, LP, a Texas
limited partnership, dated July 19, 2010
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10.3
|
Second
Amendment to Purchase and Sale Agreement, by and between Global Rehab
Dallas, LP, a Delaware limited partnership and GR IRF I, LP, a Texas
limited partnership, dated August 17, 2010
|
99.1
|
Press
Release dated August 25, 2010
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CORNERSTONE
HEALTHCARE PLUS REIT, INC.
|
||
Dated: August
25, 2010
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By:
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/s/ Sharon C. Kaiser
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Sharon
C. Kaiser,
|
||
Chief
Financial Officer
|