Monday, January 9, 2012

Griffin-American Healthcare REIT II Completes Successful Transition

 NEWPORT BEACH, CA(Jan. 9, 2012) – Griffin-American Healthcare REIT II (formerly known as Grubb & Ellis Healthcare REIT II) announced today that it has successfully completed the transition of its advisory and dealer manager agreements from Grubb & Ellis Company and its affiliates to co-sponsorship by American Healthcare Investors and Griffin Capital Corporation. 
 The U.S. Securities and Exchange Commission declared the REIT’s post-effective amendment to its registration statement, which includes a new prospectus, effective on Jan. 6, 2012.    

 Griffin Capital Securities, which received a “no objections” letter from the Financial Industry Regulatory Authority (FINRA) on Dec. 30, 2011, has assumed its responsibilities as the new dealer manager for the REIT’s uninterrupted public offering. 

“We are very excited to serve as co-sponsor and dealer manager for Griffin-American Healthcare REIT II,” stated Kevin Shields (top right photo), chief executive officer of Griffin Capital Securities and Griffin Capital Corporation.  “The institutional mindset and investor-first philosophy we share with American Healthcare Investors and the REIT’s board of directors makes this an ideal partnership that I am confident will drive the performance of the REIT to even greater heights.”

 The REIT’s executive management team, led since its inception by chairman and chief executive officer Jeff Hanson (middle left photo) and president and chief operating officer Danny Prosky (middle right photo), remains unchanged, as does its board of directors.

“We are genuinely humbled by the broad-based and resounding support we’ve received from our stockholders, independent broker-dealer partners and their registered representatives through a necessary transition,” said Hanson.  “Griffin-American Healthcare REIT II remains the REIT they know, managed by the people they trust, delivering the performance they expect and deserve.”

 Prosky added, “With the successful conclusion of our transition, we are completely focused on the expansion of our portfolio of clinical healthcare real estate and positioning the company for a successful liquidity event for our stockholders in the future.”

On Nov. 7, 2011, Los Angeles-based Griffin Capital Corporation was selected, along with American Healthcare Investors, to serve as co-sponsor of Grubb & Ellis Healthcare REIT II by the independent members of its board of directors.  Griffin Capital Securities was selected to serve as the dealer manager of the REIT’s offering.  As a result, on Jan. 3, 2012, the REIT was renamed Griffin-American Healthcare REIT II.

To date, the REIT has made geographically diverse acquisitions comprised of 56 buildings valued at approximately $438.7 million, based on aggregate purchase price, with another $270 million of property acquisitions under contract. 

Once the pending acquisitions are completed, most of which are expected to close this month, the portfolio will total 73 buildings valued at nearly $710 million, based on purchase price, representing 266 percent growth in the portfolio since the beginning of 2011.

 As of Sept. 30, 2011, the company's property portfolio was 97 percent leased with a weighted average remaining lease term of approximately ten years and leverage of 25.6 percent.

 Griffin-American Healthcare REIT II has sold approximately 47,385,380 shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $472,855,000 through its initial public offering, as of Dec. 23, 2011.

For more information regarding Griffin-American Healthcare REIT II, please visit

For more information regarding American Healthcare Investors, please visit

 Contact:  Damon Elder ,, (949) 270-9207

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