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| Danny Prosky |
NEWPORT BEACH, CA – American Healthcare Investors and
Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare
REIT II, Inc., announced the acquisition of three Los Angeles-area hospitals
and three medical office buildings located in Frisco,Texas and Jasper, Georgia
by the REIT for an aggregate purchase price of approximately $108.7
million.
With the completion
of these latest acquisitions, the REIT’s portfolio totals 121 buildings valued
at approximately $1.1 billion, based on purchase price, diversified across 26
states.
Since Jan. 1, 2012, the portfolio has grown by approximately
149 percent, based on purchase price, while maintaining leverage of approximately
27 percent (total debt divided by total assets), as of August 15, 2012, among
the lowest in the non-traded REIT industry, according to independent research
provided by Blue Vault Partners, LLC.
“Reaching the $1
billion mark in aggregate portfolio value, based on purchase price, is a key
milestone for Griffin-American Healthcare REIT II,” said Danny Prosky, a principal of American Healthcare Investors and
president and chief operating officer of the REIT.
“Size and scale can
be very important in terms of real estate portfolio operations, efficiency and
potential enhanced value of the REIT as a whole. The REIT has now grown to the size where it is one of the largest
and most significant owners of healthcare-related real estate in the country.”
For a complete copy
of the company’s news release, please contact:
Damon Elder
SVP, Marketing & Communications
American Healthcare Investors
(949) 270-9207 direct
(714) 356-1460 cell
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