Max TDP of a 212+ is 180W, so it may limit the OCing ability, but it'll work.
It's compatible with the AM3/3+ socket, so that aspect is fine.
As an FYI, if you only want 4.0GHz..... you don't need to OC. The FX-8320 turbo's to 4.0GHz (from a base 3.5GHz). You wouldn't accomplish anything by OCing it to run at 4.0GHz all the time - other than slightly increase your electricity bill.