SEC Comment Letter for National Healthcare Properties, Inc. (NHP, HLTC, NHPAP, NHPBP) (CIK 0001561032) (NHP) — Jan 29, 2013
National Healthcare Properties, Inc. (NHP, HLTC, NHPAP, NHPBP) (CIK 0001561032)
Date: Jan. 29, 2013 · CIK: 0001561032 · Accession: 0000000000-13-005024
AI Filing Summary & Sentiment
Referenced dates: December 18, 2012, November 7, 2012
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January 28, 2013 Via E -mail Nicholas S. Schorsch Chairman of the Board of Directors American Realty Capital Healthcare Trust II, Inc. 405 Park Avenue New York, NY 10022 Re: American Realty Capital Healthcare Trust II, Inc. Amendment No. 2 to Registration Statement on Form S -11 Filed January 11, 2013 File No. 333 -184677 Dear Mr. Schorsch : We have reviewed Amendment No. 2 to your registration statement and have the following comments. In some of our comments, we may ask you to provide us with inform ation so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information . If you do not believe our comments apply to your facts and circumstances or do not believe a n amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. General 1. We note your response to comment 1 of our letter dated December 18, 2012. We will continue to monitor for your response to comments 22 and 26 of our letter dated November 7, 2012. Prospectus Summary, page 1 What are the fees and other amounts that you wi ll pay to the advisor …?, page 13 2. Please explain the purpose of offering both an incentive fee and equity incentive plan to the advisor. Nicholas S. Schorsch American Realty Capital Healthcare Trust II, Inc. January 28, 2013 Page 2 Management, page 81 The Advisor, page 91 3. We note your response to comment 8 of our letter dated December 18, 2012. In response to our comment, it appears that certain personnel will each spend about 30 hours a week on your activities, while Messrs. Weil, Block, and Budko will, together, spend about 20 hours a week on your activities. Please clarify that this is the c ase, or whether Messrs. Weil, Block and Budko will each devote about 20 hours a week to your activities. Material U.S. Federal Income Tax Considerations, page 164 4. We note that recent changes were made to the tax code. Please update your disclosure in this section as appropriate or advise. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Act of 193 3 and all applicable Securities Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. Notwithstanding our comments, in the event you request acceleration of the effective date of the pending regist ration statement please provide a written statement from the company acknowledging that: should the Commission or the staff, acting pursuant to delegated authority, declare the filing ef fective, it does not foreclose the Commission from taking any action with respect to the filing; the action of the Commission or the staff, acting pursuant to delegated authority, in declaring the filing effective, does not relieve the company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and the company may not assert staff comments and the declaration of effectiveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please refer to Rules 460 and 461 regarding requests for acceleration . We will consider a written request for acceleration of the effective date of the registration statement as confirmation of the fact that those requesting acceleration are aware of their respective responsibilities under the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities specified in the above registration statement. Please allow adequate time for us to review any amendment prior to the requested effective date o f the registration statement. Nicholas S. Schorsch American Realty Capital Healthcare Trust II, Inc. January 28, 2013 Page 3 You may contact Howard Efron at (202) 551 -3439 or Robert Telewicz at (202)551 -3438 if you have questions regarding comments on the financial statements and re lated matters. Please contact Stacie Gorman at (202)551 -3585 or me at (202)551 -3655 with any other questions. Sincerely, /s/ Sonia Gupta Barros Sonia Gupta Barros Special Counsel cc: Peter M. Fass ( via e -mail)