NEWPORT BEACH, CA(Nov. 22, 2011) – Jeff Hanson (top left photo) and Danny Prosky (top right photo) announced today that earlier this month they formed and launched American Healthcare Investors LLC, a commercial real estate investment firm headquartered in Newport Beach. American Healthcare Investors has established a joint venture with Griffin Capital Corporation and affiliates to advise and manage Grubb & Ellis Healthcare Trust, a publicly registered non-traded real estate investment trust that currently owns a portfolio of healthcare properties valued in excess of $430 million and seeks to raise up to $3.0 billion in equity capital.
The REIT will be renamed Griffin-American Healthcare Trust, Inc.
On Nov. 8, the independent members of the REIT’s board of directors announced that it had elected to replace Grubb & Ellis as sponsor with American Healthcare Investors and Griffin Capital as co-sponsors. It also appointed Griffin Capital Securities as replacement dealer-manager.
“We formed American Healthcare Investors with one goal in mind,” explained Hanson. “And that is to continue to execute, in partnership with Griffin Capital, our established vision for the REIT, which has firmly established itself as one of the finest performing non-traded REITs in the industry.”
Hanson continues to serve as chairman of the board and chief executive officer of the REIT, in addition to being one of its largest individual stockholders. Prosky continues to serve as president, chief operating officer, and as a director. Hanson and Prosky have served in the same roles since the inception of the REIT in 2009 and will continue to do so.
“We are extremely proud of the exceptional economic performance of the REIT, which began acquiring assets in 2010,” said Prosky. “We will continue the disciplined management approach that has delivered these results, while further enhancing the investor-friendly structural elements that differentiate us in the industry, most notably our significant alignment of interests among REIT shareholders, the management team, and the sponsor.”
Hanson and Prosky have completed in excess of $13 billion in aggregate acquisition and disposition transactions during their careers in commercial real estate investment, $5.0 billion of which has been healthcare-related real estate transactions.
Approximately $8.0 billion of the $13 billion was completed as a team while they led Grubb & Ellis’ investment management subsidiary for more than half a decade.
For more information regarding American Healthcare Investors, please visit http://www.americanhealthcareinvestors.com/.
For more information regarding Grubb & Ellis Healthcare REIT II, please visit www.gbe-reits.com/healthcare2.
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