Friday, November 15, 2013

Morrison Commercial Real Estate Completes 9,512-SF Lease at GAI Building in Downtown Orlando, FL

GAI Building, 618 East South Street, Downtown Orlando, FL

Lawson Dann

ORLANDO, FL -- Morrison Commercial Real Estate announced the completion of a 9,512± square foot office lease in Downtown Orlando.

 Lawson Dann of Morrison Commercial Real Estate represented the tenant, CNS Healthcare, in leasing 9,512± square feet at the  GAI Building located at 618 East South Street in Orlando, FL. 

Scott Bell and Jeff Streep at Jones Lang LaSalle and Craig Ustler at Ustler Properties represented the Landlord in this transaction.

 For a complete copy of the company’s news release, please contact:

Jennifer Eubanks
Phone: 407.440.6650

Griffin-American Healthcare REIT II Reports Third Quarter 2013 Results

Jeffrey Hanson

NEWPORT BEACH, CA – Griffin-American Healthcare REIT II, Inc. announced operating results for the company’s third quarter ended September 30, 2013. 

“It was a significant third quarter for Griffin-American Healthcare REIT II, which continued its impressive expansion with $672 million of new acquisitions,” said Jeff Hanson, chairman and chief executive officer. 

“As a result of this growth, we have become one of the country’s largest and best diversified healthcare REITs, with a $2.23 billion portfolio, based on aggregate acquisition purchase price, spanning 30 states and two nations. Importantly, we’ve driven this robust growth while ending the quarter with just 11 percent total debt financing.”

Danny Prosky, president and chief operating officer, added, “In addition to our ongoing portfolio growth, we continued to enjoy strong financial and property-level performance during the third quarter. 

Danny Prosky
“Funds from operations, modified funds from operations and net operating income all grew substantially, while our average aggregate occupancy reached 96.1 percent and our average remaining lease term expanded to nearly 10 years.”

During the quarter, Griffin-American Healthcare REIT II concluded its follow-on public offering, raising more than $1 billion during the third quarter and in excess of $2.8 billion in total gross offering proceeds since the launch of its initial public offering in late 2009. 

“With the close of our equity offering, we are proud to report that the executives and employees of American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, have purchased more than $15 million of common stock in our REIT,” added Prosky. 

“As we’ve long-maintained, we believe the managers of an investment program should be significant investors in that program, and we are proud to be standing shoulder-to-shoulder with our fellow stockholders.”

For a complete copy of the company’s news release, please contact:

Damon Elder

(949) 270-9207