NEWPORT BEACH, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced that the REIT has entered into a $200 million unsecured revolving line of credit with Merrill Lynch, Pierce, Fenner & Smith Incorporated and KeyBanc Capital Markets as joint lead arrangers.
Bank of America will serve as administrative agent with KeyBank National Association acting as syndication agent. The credit line may be increased up to $350 million upon meeting certain conditions. The unsecured credit facility may be utilized to acquire, finance or re-finance properties, as well as for other corporate purposes.
“Since the beginning of 2012, Griffin-American Healthcare REIT II has expanded its portfolio of healthcare-related properties by more than 60 percent, based on purchase price, to approximately $724 million,” said Jeff Hanson (top right photo), principal of American Healthcare Investors and chairman and chief executive officer of Griffin-American Healthcare REIT II.
“Thanks in part to lending partners like Bank of America, KeyBank National Association and the other lender parties to this new line of credit, we are equipped to continue our pursuit of attractive acquisitions.”
For a complete copy of the company’s news release, please contact:
Damon Elder
(714) 356-1460
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