NEWPORT BEACH, CA (Aug. 29, 2012) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced today the acquisition of 13-buildings known as the Pacific Northwest Senior Care Portfolio, as well as an additional seven medical office buildings located in Illinois, Texas,Tennessee and Georgia by the REIT for an aggregate purchase price of approximately $103 million.
Currently, the REIT’s portfolio totals 110 buildings valued at approximately $925 million, based on purchase price, diversified across 26 states.
(Naperville, IL Medical Office Building, middle left photo)
Since Jan. 1, 2012, the portfolio has grown by approximately 111 percent, based on purchase price, while maintaining leverage of 31.2 percent (total debt divided by total assets), as of June 30, 2012, among the lowest in the non-traded REIT industry, according to independent research provided by Blue Vault Partners LLC.
(Temple, TX Medical Office Building, middle right photo)
“We seek to acquire properties that provide multiple levels of diversification to Griffin-American Healthcare REIT II,” said Danny Prosky (top right photo), a principal of American Healthcare Investors and president and chief operating officer of the REIT.
“These latest acquisitions are a good example of this – they add geographic, asset and payor mix diversification to an already substantial nationwide portfolio of healthcare-related properties.”
The seven medical office buildings total approximately 199,000 square feet and are located in Naperville and Urbana, Illinois; Temple, Killeen and Rowlett, Texas; Shelbyville, Tennessee; and Jasper, Georgia.
For a complete copy of the company’s news release, please contact:
Damon Elder
Senior VP, Marketing & Communications
American Healthcare Investors
4000 MacArthur Boulevard
West Tower, Suite 200
Newport Beach, CA 92660
(949) 270-9207 direct
(714) 356-1460 cell
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