Tuesday, December 8, 2015

Griffin-American Healthcare REIT III Joint Venture Completes Acquisition of Trilogy Health Services in $1.125 Billion Transaction

Randy Bufford
IRVINE, CA - Griffin-American Healthcare REIT III, Inc. (“Griffin-American”) nnounced that, pursuant to a joint venture with NorthStar Healthcare Income, Inc. (“NorthStar Healthcare”), it has completed the acquisition of approximately 96 percent of Trilogy Investors, LLC (“Trilogy”), the parent company of Trilogy Health Services LLC, for a purchase price that is based on a total company valuation of approximately $1.125 billion.

Griffin-American owns 70 percent of the joint venture and acts as its manager. NorthStar Healthcare owns 30 percent of the joint venture.  As part of the transaction, Randy Bufford, Trilogy’s founder and chief executive officer, and other members of Trilogy’s management have retained an approximately 4 percent equity interest in Trilogy.

 Bufford and his executive team will continue to manage the Trilogy assets on behalf of the joint venture.

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

Damon Elder
(949) 270-9207

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