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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12.6pt 0 10pt; text-align: center"><FONT STYLE="font: 15pt Times New Roman, Times, Serif; letter-spacing: 1.8pt"><B>UNITED
STATES</B></FONT><FONT STYLE="font-size: 15pt"><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: 1.8pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>WASHINGTON,
D.C. 20549</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 9pt; text-align: center"><FONT STYLE="font-size: 15pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>CURRENT
REPORT</B><BR>
<B>Pursuant to Section 13 or 15(d) of the </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Securities
Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 5.4pt 0 16.2pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date
of report (Date of earliest event reported):</B><BR>
<B>October 29, 2013</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.15in 0 10pt; text-align: center"><FONT STYLE="font-size: 24pt"><B>NorthStar
Healthcare Income, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.15in; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>(Exact
Name of Registrant as Specified in Charter)</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 16.2pt 0.1in 0 0.95in"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%; text-align: center"><B>Maryland</B></TD>
    <TD STYLE="width: 34%; text-align: center"><B>No. 333-170802</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>No. 27-3663988</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>(State or Other Jurisdiction<BR>
    of Incorporation)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>(IRS Employer<BR>
    Identification No.)</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>399
Park Avenue, 18th Floor, New York, New York 10022</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif; letter-spacing: -0.2pt">(Address
of Principal Executive Offices) (Zip Code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registrant&rsquo;s
telephone number, including area code: (212)&nbsp;547-2600</B><BR>
<BR>
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Not
applicable</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">(Former
Name or Former Address, if Changed Since Last Report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; color: Red"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; letter-spacing: -0.1pt">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">under any of the following provisions (<FONT STYLE="font-size: 10pt"><I>see
</I></FONT>General Instruction A.2. below):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 1.01. Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information set forth under Item 2.01 of this Current Report
on Form 8-K is incorporated by reference into this Item 1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.01. Completion of Acquisition or Disposition of Assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Kansas City Assisted Living Portfolio</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On October 29, 2013, NorthStar Healthcare Income, Inc. (&#8220;NorthStar
Healthcare&#8221;), through its operating partnership, completed the acquisition of a 70-unit assisted living and memory care facility
located in Leawood, Kansas (&#8220;Grace Gardens&#8221;), and a 48-unit assisted living and memory care facility located in Spring
Hill, Kansas (&#8220;Blackhawk Commons,&#8221; and together with Grace Gardens, the &#8220;KC ALF Portfolio&#8221;) for an aggregate
total cost of $15.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Grace Gardens and Blackhawk Commons were constructed in 2002 and
2006, respectively, and each facility is 100% leased to an affiliate of Advantage Health Group pursuant to a ten year, cross-defaulted,
triple-net lease, whereby the tenant is responsible for substantially all of the operating expenses at each property. Each lease
contains two five-year extension options and annual rent escalations equal to the greater of (i) the percentage increase in the
consumer price index and (ii) 2.5%. The KC ALF Portfolio consists of two buildings totaling 76,303 square feet, and as of November
1, 2013 resident occupancy was 96%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The KC ALF Portfolio was originally acquired by an affiliate of
NorthStar Realty Finance Corp., NorthStar Healthcare&#8217;s Sponsor (the &#8220;Sponsor&#8221;), and in accordance with NorthStar
Healthcare&#8217;s conflict of interest policy, the Sponsor identified the KC ALF Portfolio as a suitable investment for NorthStar
Healthcare and closed on the purchase with the intention of providing NorthStar Healthcare with the opportunity to acquire the
KC ALF Portfolio, at the Sponsor&#8217;s cost, at a later date. The aggregate total cost of the KC ALF Portfolio paid by NorthStar
Healthcare was equal to the Sponsor&#8217;s cost in the KC ALF Portfolio, including all costs and expenses. The transaction was
approved by NorthStar Healthcare&#8217;s board of directors, including all of the independent directors, and the total cost was
funded with proceeds from NorthStar Healthcare&#8217;s initial public offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In connection with its acquisition of the ALF Portfolio, NorthStar
Healthcare entered into Membership Interest Purchase and Sale Agreements, dated as of October 29, 2013, with NorthStar Realty Healthcare,
LLC, an affiliate of the Sponsor, for the purchase of 100% of the membership interests in NRFC Blackhawk Holdings, LLC and NRFC
Grace Gardens, LLC, the entities that own the ALF Portfolio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Clinton Memory Care Facility</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On October 31, 2013, NorthStar Healthcare, through its operating
partnership, completed the acquisition of a 48-unit memory care facility located in Clinton, Connecticut (the &#8220;Clinton Facility&#8221;)
for a total cost of $11.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Clinton Facility was constructed in 2002 and renovated to a
100% memory care facility in 2008. The Clinton Facility is 100% leased to an affiliate of Peregrine Health Management Company (&#8220;Peregrine&#8221;)
pursuant to a ten year, triple-net lease, whereby the tenant is responsible for substantially all of the operating expenses at
the property. The lease, which is cross-defaulted with the lease for the Athenaeum Facility, described below in Item 8.01, contains
two five-year extension options and includes annual rent escalations equal to the greater of (i) the percentage increase in the
consumer price index and (ii) 2.5%. The Clinton Facility contains 25,332 square feet, and as of November 1, 2013 resident occupancy
was 98%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Clinton Facility was originally acquired by an affiliate of
the Sponsor, and in accordance with NorthStar Healthcare&#8217;s conflict of interest policy, the Sponsor identified the Clinton
Facility as a suitable investment for NorthStar Healthcare and closed on the purchase with the intention of providing NorthStar
Healthcare with the opportunity to acquire the Clinton Facility, at the Sponsor&#8217;s cost, at a later date. The total cost of
the Clinton Facility paid by NorthStar Healthcare was equal to the Sponsor&#8217;s cost in the Clinton Facility, including all
costs and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">expenses. The transaction was approved by NorthStar Healthcare&#8217;s
board of directors, including all of the independent directors, and the total cost was funded through a combination of proceeds
from NorthStar Healthcare&#8217;s initial public offering and the assumption of a $7.82 million of existing mortgage debt on the
Clinton Facility, which was originated by an unaffiliated third-party lender (the &#8220;Senior Loan&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Senior Loan, which is guaranteed by affiliates of Peregrine,
bears interest at a floating rate of 2.75% over the one-month London Interbank Offered Rate and matures on June 1, 2018. Monthly
payments include interest and principal amounts based on a 25-year amortization schedule. In addition to standard representations,
warranties and covenants contained in transactions of this type, under the terms of the Senior Loan the Clinton Facility must maintain
(i) average occupancy, determined on a quarterly basis and as further defined in the loan agreement, equal to 87.5% and (ii) a
minimum debt service coverage ratio, as defined in the loan agreement, equal to 1.25x.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In connection with its acquisition of the Clinton Facility, NorthStar
Healthcare entered into a Membership Interest Purchase and Sale Agreement, dated as of October 31, 2013, with NorthStar Realty
Healthcare, LLC, an affiliate of the Sponsor, for the purchase of 100% of the membership interests in NRFC Clinton Holdings, LLC,
the entity that owns the Clinton Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off Balance Sheet Arrangement of a Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information set forth under Item 2.01 of this Current Report
on Form 8-K is incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 8.01. Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Athenaeum Assisted Living Facility</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On October 31, 2013, NorthStar Healthcare, through a subsidiary
of its operating partnership, completed the acquisition of a 14-unit, 16-bed assisted living facility located in Skaneateles, New
York (the &#8220;Athenaeum Facility&#8221;) for a total cost of $3.1 million. In connection with its acquisition of the Athenaeum
Facility, NorthStar Healthcare entered into a Purchase and Sale Agreement, dated October 31, 2013, with an affiliate of Peregrine,
the seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The Athenaeum Facility was originally constructed in 1863 and renovated
most recently in 2008. The Athenaeum Facility is 100% leased to an affiliate of Peregrine pursuant to a ten year, triple-net lease,
whereby the tenant is responsible for substantially all of the operating expenses at the property. The lease, which is cross-defaulted
with the Clinton Facility lease, contains two five-year extension options and includes annual rent escalations equal to the greater
of (i) the percentage increase in the consumer price index and (ii) 2.5%. The Athenaeum Facility contains 13,233 square feet, and
as of November 1, 2013 resident occupancy at the Athenaeum Facility was 81%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Current Report on Form 8-K contains certain
&#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements are generally identifiable by use of forward-looking terminology such as &#8220;will&#8221; or other similar words or
expressions. These statements are based on NorthStar Healthcare&#8217;s current expectations and beliefs and are subject to a number
of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements;
NorthStar Healthcare can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative
in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize
or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause
actual results to differ materially from NorthStar Healthcare&#8217;s expectations include, but are not limited to, the ability
of our property operators to successfully manage our properties, the ability to satisfy the minimum average occupancy and minimum
debt</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">service coverage ratio tests contained in the Clinton Facility loan
agreement, the impact of any losses on cash flows and returns, market rental rates and property level cash flows, changes in economic
conditions generally and the real estate and debt markets specifically, the ability to maintain a qualified diversified portfolio,
the impact of local economics, the ability to successfully implement an exit strategy, availability of investment opportunities,
availability of capital, the ability to achieve its targeted returns, generally accepted accounting principles, policies and rules
applicable to REITs and the factors described in Item 1A of NorthStar Healthcare&#8217;s Annual Report on Form 10-K for the fiscal
year ended December 31, 2012 under the heading &#8220;Risk Factors.&#8221; The foregoing list of factors is not exhaustive. All
forward-looking statements included in this Current Report on Form 8-K are based upon information available to NorthStar Healthcare
on the date of this report and NorthStar Healthcare is under no duty to update any of the forward-looking statements after the
date of this report to conform these statements to actual results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NorthStar Healthcare Income, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: November 4, 2013</FONT></TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Ronald J. Lieberman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Ronald J. Lieberman</FONT></TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive Vice President, General Counsel and Secretary </FONT></TD></TR>
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[{"type": "8-K", "sequence": "1", "filename": "t1300594_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 27223}]
{"company-data": {"conformed-name": "NorthStar Healthcare Income, Inc.", "cik": "0001503707", "assigned-sic": "6798", "irs-number": "273663988", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-170802", "film-number": "131190126"}, "business-address": {"street1": "399 PARK AVENUE", "street2": "18TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-547-2600"}, "mail-address": {"street1": "399 PARK AVENUE", "street2": "18TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": [{"former-conformed-name": "NorthStar Healthcare Income Trust, Inc.", "date-changed": "20120404"}, {"former-conformed-name": "NorthStar Senior Care Trust, Inc.", "date-changed": "20101119"}, {"former-conformed-name": "NorthStar Healthcare Trust, Inc.", "date-changed": "20101018"}]}
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):
October 29, 2013
NorthStar
Healthcare Income, Inc.
(Exact
Name of Registrant as Specified in Charter)
Maryland
No. 333-170802
No. 27-3663988
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
399
Park Avenue, 18th Floor, New York, New York 10022
(Address
of Principal Executive Offices) (Zip Code)
Registrant's
telephone number, including area code: (212) 547-2600
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 obligation of the registrant
under any of the following provisions (
see
General Instruction A.2. below):
£
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
£
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
£
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
£
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
The information set forth under Item 2.01 of this Current Report
on Form 8-K is incorporated by reference into this Item 1.01.
Item 2.01. Completion of Acquisition or Disposition of Assets.
Kansas City Assisted Living Portfolio
On October 29, 2013, NorthStar Healthcare Income, Inc. ("NorthStar
Healthcare"), through its operating partnership, completed the acquisition of a 70-unit assisted living and memory care facility
located in Leawood, Kansas ("Grace Gardens"), and a 48-unit assisted living and memory care facility located in Spring
Hill, Kansas ("Blackhawk Commons," and together with Grace Gardens, the "KC ALF Portfolio") for an aggregate
total cost of $15.6 million.
Grace Gardens and Blackhawk Commons were constructed in 2002 and
2006, respectively, and each facility is 100% leased to an affiliate of Advantage Health Group pursuant to a ten year, cross-defaulted,
triple-net lease, whereby the tenant is responsible for substantially all of the operating expenses at each property. Each lease
contains two five-year extension options and annual rent escalations equal to the greater of (i) the percentage increase in the
consumer price index and (ii) 2.5%. The KC ALF Portfolio consists of two buildings totaling 76,303 square feet, and as of November
1, 2013 resident occupancy was 96%.
The KC ALF Portfolio was originally acquired by an affiliate of
NorthStar Realty Finance Corp., NorthStar Healthcare's Sponsor (the "Sponsor"), and in accordance with NorthStar
Healthcare's conflict of interest policy, the Sponsor identified the KC ALF Portfolio as a suitable investment for NorthStar
Healthcare and closed on the purchase with the intention of providing NorthStar Healthcare with the opportunity to acquire the
KC ALF Portfolio, at the Sponsor's cost, at a later date. The aggregate total cost of the KC ALF Portfolio paid by NorthStar
Healthcare was equal to the Sponsor's cost in the KC ALF Portfolio, including all costs and expenses. The transaction was
approved by NorthStar Healthcare's board of directors, including all of the independent directors, and the total cost was
funded with proceeds from NorthStar Healthcare's initial public offering.
In connection with its acquisition of the ALF Portfolio, NorthStar
Healthcare entered into Membership Interest Purchase and Sale Agreements, dated as of October 29, 2013, with NorthStar Realty Healthcare,
LLC, an affiliate of the Sponsor, for the purchase of 100% of the membership interests in NRFC Blackhawk Holdings, LLC and NRFC
Grace Gardens, LLC, the entities that own the ALF Portfolio.
Clinton Memory Care Facility
On October 31, 2013, NorthStar Healthcare, through its operating
partnership, completed the acquisition of a 48-unit memory care facility located in Clinton, Connecticut (the "Clinton Facility")
for a total cost of $11.0 million.
The Clinton Facility was constructed in 2002 and renovated to a
100% memory care facility in 2008. The Clinton Facility is 100% leased to an affiliate of Peregrine Health Management Company ("Peregrine")
pursuant to a ten year, triple-net lease, whereby the tenant is responsible for substantially all of the operating expenses at
the property. The lease, which is cross-defaulted with the lease for the Athenaeum Facility, described below in Item 8.01, contains
two five-year extension options and includes annual rent escalations equal to the greater of (i) the percentage increase in the
consumer price index and (ii) 2.5%. The Clinton Facility contains 25,332 square feet, and as of November 1, 2013 resident occupancy
was 98%.
The Clinton Facility was originally acquired by an affiliate of
the Sponsor, and in accordance with NorthStar Healthcare's conflict of interest policy, the Sponsor identified the Clinton
Facility as a suitable investment for NorthStar Healthcare and closed on the purchase with the intention of providing NorthStar
Healthcare with the opportunity to acquire the Clinton Facility, at the Sponsor's cost, at a later date. The total cost of
the Clinton Facility paid by NorthStar Healthcare was equal to the Sponsor's cost in the Clinton Facility, including all
costs and
2
expenses. The transaction was approved by NorthStar Healthcare's
board of directors, including all of the independent directors, and the total cost was funded through a combination of proceeds
from NorthStar Healthcare's initial public offering and the assumption of a $7.82 million of existing mortgage debt on the
Clinton Facility, which was originated by an unaffiliated third-party lender (the "Senior Loan").
The Senior Loan, which is guaranteed by affiliates of Peregrine,
bears interest at a floating rate of 2.75% over the one-month London Interbank Offered Rate and matures on June 1, 2018. Monthly
payments include interest and principal amounts based on a 25-year amortization schedule. In addition to standard representations,
warranties and covenants contained in transactions of this type, under the terms of the Senior Loan the Clinton Facility must maintain
(i) average occupancy, determined on a quarterly basis and as further defined in the loan agreement, equal to 87.5% and (ii) a
minimum debt service coverage ratio, as defined in the loan agreement, equal to 1.25x.
In connection with its acquisition of the Clinton Facility, NorthStar
Healthcare entered into a Membership Interest Purchase and Sale Agreement, dated as of October 31, 2013, with NorthStar Realty
Healthcare, LLC, an affiliate of the Sponsor, for the purchase of 100% of the membership interests in NRFC Clinton Holdings, LLC,
the entity that owns the Clinton Facility.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off Balance Sheet Arrangement of a Registrant.
The information set forth under Item 2.01 of this Current Report
on Form 8-K is incorporated by reference into this Item 2.03.
Item 8.01. Other Events.
Athenaeum Assisted Living Facility
On October 31, 2013, NorthStar Healthcare, through a subsidiary
of its operating partnership, completed the acquisition of a 14-unit, 16-bed assisted living facility located in Skaneateles, New
York (the "Athenaeum Facility") for a total cost of $3.1 million. In connection with its acquisition of the Athenaeum
Facility, NorthStar Healthcare entered into a Purchase and Sale Agreement, dated October 31, 2013, with an affiliate of Peregrine,
the seller.
The Athenaeum Facility was originally constructed in 1863 and renovated
most recently in 2008. The Athenaeum Facility is 100% leased to an affiliate of Peregrine pursuant to a ten year, triple-net lease,
whereby the tenant is responsible for substantially all of the operating expenses at the property. The lease, which is cross-defaulted
with the Clinton Facility lease, contains two five-year extension options and includes annual rent escalations equal to the greater
of (i) the percentage increase in the consumer price index and (ii) 2.5%. The Athenaeum Facility contains 13,233 square feet, and
as of November 1, 2013 resident occupancy at the Athenaeum Facility was 81%.
Safe Harbor Statement
This Current Report on Form 8-K contains certain
"forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements are generally identifiable by use of forward-looking terminology such as "will" or other similar words or
expressions. These statements are based on NorthStar Healthcare's current expectations and beliefs and are subject to a number
of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements;
NorthStar Healthcare can give no assurance that its expectations will be attained. Forward-looking statements are necessarily speculative
in nature, and it can be expected that some or all of the assumptions underlying any forward-looking statements will not materialize
or will vary significantly from actual results. Variations of assumptions and results may be material. Factors that could cause
actual results to differ materially from NorthStar Healthcare's expectations include, but are not limited to, the ability
of our property operators to successfully manage our properties, the ability to satisfy the minimum average occupancy and minimum
debt
3
service coverage ratio tests contained in the Clinton Facility loan
agreement, the impact of any losses on cash flows and returns, market rental rates and property level cash flows, changes in economic
conditions generally and the real estate and debt markets specifically, the ability to maintain a qualified diversified portfolio,
the impact of local economics, the ability to successfully implement an exit strategy, availability of investment opportunities,
availability of capital, the ability to achieve its targeted returns, generally accepted accounting principles, policies and rules
applicable to REITs and the factors described in Item 1A of NorthStar Healthcare's Annual Report on Form 10-K for the fiscal
year ended December 31, 2012 under the heading "Risk Factors." The foregoing list of factors is not exhaustive. All
forward-looking statements included in this Current Report on Form 8-K are based upon information available to NorthStar Healthcare
on the date of this report and NorthStar Healthcare is under no duty to update any of the forward-looking statements after the
date of this report to conform these statements to actual results.
4
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
NorthStar Healthcare Income, Inc.
Date: November 4, 2013
By:
/s/ Ronald J. Lieberman
Ronald J. Lieberman
Executive Vice President, General Counsel and Secretary
5