NorthStar Healthcare Income, Inc. and The Freshwater Group, Inc. acquired Pinebrook, LLC for $16.3 million on December 27, 2013. NorthStar Healthcare acquired a 97% interest in the Pinebrook Facility for $15.8 million. NorthStar Healthcare funded the transaction through a combination of proceeds from its initial public offering and a $10.5 million senior mortgage note provided by an unaffiliated third-party lender. For the year ended December 31, 2013, Pinebrook reported revenues of $1.88 million, operating loss of $0.73 million and net loss of $0.73 million. The transaction was approved by NorthStar Healthcare's Board of Directors.

NorthStar Healthcare Income, Inc. and The Freshwater Group, Inc. completed the acquisition of Pinebrook, LLC on December 27, 2013.