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| Rockwall Medical Office Building, Rockwall, TX |
NEWPORT BEACH, CA. (June 17, 2013) – American Healthcare Investors
and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare
REIT II, Inc., announced today the acquisition of 21 healthcare-related
buildings by the REIT for an aggregate purchase price of approximately $141.3
million.
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| Des Plaines Surgical Center, Des Plaines, IL |
The acquisitions include a total of 17 medical office
buildings and four skilled nursing facilities located in Georgia, Illinois,
Indiana, Pennsylvania and Texas.
The REIT’s portfolio
currently totals 174 buildings acquired for approximately $1.56 billion, 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 255 percent, based on purchase price.
As of March 31, 2013, the Griffin-American Healthcare REIT II property
portfolio was 96 percent leased with a weighted average remaining lease term of
approximately nine years and leverage (total debt divided by total assets) of
21.7 percent.
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| Fairview Skilled Nursing Facility, Grants Pass, OR |
“We continue to
source attractive acquisitions on behalf of Griffin-American Healthcare REIT II
and its stockholders,” said Danny Prosky, a principal of American
Healthcare Investors and president and chief operating officer of the REIT.
“In
a competitive market, we are proud to be among the most active buyers of
healthcare real estate as we continue to build a diverse portfolio on behalf of
stockholders.”
Griffin-American Healthcare REIT II’s most recent
acquisitions since April 26, 2013 include:
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| Danny Prosky |
- Central Indiana Medical Office Building Portfolio – Indianapolis, Indiana
- Pennsylvania Skilled Nursing Portfolio – Milton and Watsontown, Penn.
- Rockwall Medical Office Building II – Rockwall, Texas
- Pittsfield Skilled Nursing Facility – Pittsfield, Mass.
- Des Plaines Surgical Center – Des Plaines, Illinois
- Fairview Skilled Nursing Facility – Grants Pass, Oregon
- Winn Medical Center Medical Office Portfolio – Decatur, Georgia
Griffin-American
Healthcare REIT II financed the acquisitions using cash on hand, the assumption
of existing mortgage loan payables totaling $53 million and limited partnership
units of Griffin-American Healthcare REIT II Holdings, LP, the REIT’s operating
partnership.
The units of the
operating partnership were issued to the sellers of Central Indiana Medical
Office Building Portfolio as partial payment for the acquisition.
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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