Wednesday, December 26, 2012

American Healthcare Investors Facilitates Acquisition of Houston Hospital and Three Building Senior Care Portfolio in Massachusetts on Behalf of Griffin-American Healthcare REIT II


  
Bellaire Medical Center, Houston, TX
 NEWPORT BEACH, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT II, Inc., announced the acquisition of Bellaire Medical Center in Houston and a three-building portfolio of senior care facilities in Massachusetts by the REIT for an aggregate purchase price of approximately $47.6 million. 

 Currently, the REIT’s portfolio totals 125 buildings valued at approximately $1.14 billion, based on purchase price, diversified across 27 states.  Since Jan. 1, 2012, the portfolio has grown by approximately 160 percent, based on purchase price. 

Danny Prosky
As of Sept. 30, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.8 percent leased with a weighted average remaining lease term of approximately 9.4 years and leverage (total debt divided by total assets) of 32.8 percent.

 “These latest acquisitions further expand and diversify the portfolio of Griffin-American Healthcare REIT II, which has nearly tripled in size since the start of 2012, based on aggregate purchase price,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT. 

“Our portfolio represents a broad spectrum of clinical healthcare real estate – medical office buildings, hospitals, skilled nursing facilities and assisted living facilities.”

For a complete copy of the company’s new 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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