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NorthStar Healthcare Acquires 453 Unit Senior Housing Portfolio Located in Oregon and Washington

New York, NY (March 16, 2017) – NorthStar Healthcare Income, Inc. (NorthStar Healthcare) announced today that it has completed the acquisition of a 453-unit portfolio of five senior housing facilities located in Oregon and Washington for a total cost of $98.9 million, investing $28.4 million of capital.

The properties comprising this portfolio are stabilized, well-occupied and located in markets with strong demographics in western Oregon and central and northwest Washington. The facilities currently provide a mix of independent and assisted living services, with the potential to add memory care services to certain properties and a full continuum of care.

Bonaventure Senior Living a leading regional operator with 28 facilities under management throughout Oregon, Washington and Colorado, will continue to manage the portfolio.

In connection with the acquisition, NorthStar Healthcare obtained $72.5 million of non-recourse, financing with a 10-year term and a fixed interest rate of 4.66%.

“I am pleased with the purchase of this quality senior housing portfolio and our continued ability to source compelling investment opportunities for our shareholders. The strong in-place cash flow, combined with our efficient financing, is expected to generate stable returns while the conversion of certain units to memory care – which is a strategy we have effectively implemented for other assets in our portfolio – may provide significant upside” said Ron Jeanneault, chief executive officer and president of NorthStar Healthcare.

NorthStar Healthcare's portfolio consists of 70 investments with an aggregate total cost of $3.3 billion, including 66 equity investments with an aggregate total cost of $3.1 billion and three debt investments with an aggregate principal amount of $147.1 million as of September 30, 2016.

This website is neither an offer to sell nor a solicitation of an offer to purchase any NorthStar investment Program, NorthStar Investment Programs are only offered by means of a prospectus. This material must be read in conjunction with a prospectus in order to understand fully all the implications and risks of an offering of securities to which it relates. Neither the Securities and Exchange Commission nor any state securities regulator has passed on or endorsed the merits of this offering. Any representation to the contrary is unlawful. Consult the prospectus for suitability standards in your state. Securities offered through NorthStar Securities, LLC, member FINRA/SIPC. NorthStar Securities, LLC is doing business as NorthStar BD Securities, LLC (DE) in the following states: FL, GA, TX and WA.