updated 01/09/2013 8:45AM
Griffin-American Healthcare REIT adds $183.6 million in new assets
Griffin-American Healthcare REIT II has acquired 14 healthcare facilities in California, Florida, North Carolina, Indiana, and Alabama for a total purchase price of $183.6 million, rounding out their fourth quarter with an acquisition of 18 facilities. The REIT firm (Real Estate Investment Trust), headquartered in Newport Beach, is co-sponsored by American Health Investors and Griffin Capital Corporation.
“It may be an understatement to say that 2012 was a record year on many levels for Griffin-American Healthcare REIT II,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT. “Our portfolio of medical office buildings, hospitals, skilled nursing facilities and assisted living facilities more than tripled during the year, based on purchase price, and became even more broadly diversified in terms of geography, asset type and revenue sources.”
The REIT’s recent acquisitions include: a Central Indiana Medical Portfolio comprised of five buildings; a North Carolina Assisted Living Portfolio, which includes five assisted living facilities; the Sutter North Bay Health Plaza in Santa Rosa, Calif.; the Northside Medical Office Building in St. Petersburg, Fla.; the Physician’s Office Pavilion, a five-story office building at WakeMed North in Raleigh, N.C.; and the Bessemer Medical Office Building in Bessemer, Ala.
American Healthcare Investors is an investment management firm that concentrates in the acquisition and management of healthcare-related real estate. American Healthcare Investors was founded to capitalize by managing the demand for owning healthcare- related properties. Griffin Capital Corporation backs real estate investment groups and manages institutional and retail equity capital.
The Griffin-American Healthcare REIT II is a real estate investment group organized to invest in a variety of real estate properties, but primarily focused on health-care related facilities.
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