NEWPORT BEACH, CA (May 29, 2013) – American Healthcare
Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American
Healthcare REIT II, Inc., announced today the expansion of the REIT’s existing
unsecured revolving line of credit from $200 million to $450 million.
Existing lenders
Bank of America, N.A., KeyBank National Association, RBS Citizens, N.A., and
Comerica Bank are joined by new lenders Barclays Bank PLC, Fifth Third Bank,
Wells Fargo Bank, N.A., Credit Agricole Corporate and Investment Bank and
Sumitomo Mitsui Banking Corporation.
The unsecured credit facility may be utilized to acquire,
finance or re-finance properties, as well as for other corporate purposes, and
may be increased to $650 million upon meeting certain conditions.
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| Jeff Hanson |
“Since January 2012,
the portfolio of Griffin-American Healthcare REIT II has more than tripled in
size to approximately $1.5 billion, based on aggregate purchase price, and we
continue to source attractive acquisition opportunities and execute our
investment strategy on behalf of stockholders,” said Jeff Hanson,
principal of American Healthcare Investors and chairman and chief executive
officer of Griffin-American Healthcare REIT II.
“Thanks to our key
lending relationships, Griffin-American Healthcare REIT II is well-equipped to
continue its rapid growth.”
For a complete copy of the company’s news release, please
contact:
Damon Elder
SVP, 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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