Done Deals: American Healthcare Investors Facilitates Acquisition of Five Medical Office Buildings on Behalf of Griffin-American Healthcare REIT II

Friday, April 5, 2013

American Healthcare Investors Facilitates Acquisition of Five Medical Office Buildings on Behalf of Griffin-American Healthcare REIT II

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 five medical office buildings by the REIT for an aggregate purchase price of approximately $46 million.

The acquired buildings are near Denver, Colorado; Atlanta, Georgia; Indianapolis, Indiana; and Detroit, Michigan.

The REIT’s portfolio currently totals 153 buildings valued at approximately $1.42 billion, based on purchase price, diversified across 28 states and all four clinical asset classes: medical office buildings, skilled nursing facilities, hospitals and assisted living facilities.

Since Jan. 1, 2012, the portfolio has grown by approximately 223 percent, based on purchase price. As of Dec. 31, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.6 percent leased with a weighted average remaining lease term of approximately 9.5 years and leverage (total debt divided by total assets) of 32.9 percent.

“A key component of our acquisition strategy for Griffin-American Healthcare REIT II is to purchase quality medical office buildings that are located on or near thriving hospital campuses and that enjoy strong affiliations with the nation’s best performing healthcare delivery systems,” explained Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT.