Orlando, Fla., April 01, 2020 (GLOBE NEWSWIRE) -- CNL Healthcare Properties II, a non-traded real estate investment trust (REIT) focused on seniors housing and healthcare properties, has completed the successful liquidation of its portfolio according to the plan approved by shareholders in September 2019. The company has legally dissolved with the State of Maryland, effective March 27.

The company closed on the sale of its final two seniors living communities in late February for approximately $48.9 million, with CNL Healthcare Properties II receiving approximately $42.1 million in net proceeds after closing costs, repayments of debt and other adjustments.

The company paid a final liquidating distribution of $9.32 per share, for a total of approximately $45.67 million, to shareholders of record as of the close of business on March 19. The $9.32 per share liquidating distribution compares to the shareholder-approved proxy range of $8.80 - $9.83 per share.

About CNL Healthcare Properties II
CNL Healthcare Properties II elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes beginning with the year ending Dec. 31, 2017, and its intention was to be organized and operate in a manner that allowed it to remain qualified as a REIT for federal income tax purposes. Based in Orlando, Florida, CNL Healthcare Properties II invested in the seniors housing and medical office sectors. For more information, visit cnlhealthcarepropertiesii.com.

About CNL Financial Group

CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $34 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit cnl.com.