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| Jeffrey Hanson |
NEWPORT BEACH, CA – Griffin-American Healthcare REIT II,
Inc. announced operating results for the company’s third quarter ended
September 30, 2013.
“It was a significant third quarter for Griffin-American
Healthcare REIT II, which continued its impressive expansion with $672 million
of new acquisitions,” said Jeff Hanson, chairman and chief executive
officer.
“As a result of this growth, we have become one of the
country’s largest and best diversified healthcare REITs, with a $2.23 billion
portfolio, based on aggregate acquisition purchase price, spanning 30 states
and two nations. Importantly, we’ve driven this robust growth while ending the
quarter with just 11 percent total debt financing.”
Danny Prosky, president and chief operating officer,
added, “In addition to our ongoing portfolio growth, we continued to enjoy
strong financial and property-level performance during the third quarter.
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| Danny Prosky |
“Funds from operations, modified funds from operations and
net operating income all grew substantially, while our average aggregate
occupancy reached 96.1 percent and our average remaining lease term expanded to
nearly 10 years.”
During the quarter, Griffin-American Healthcare REIT II
concluded its follow-on public offering, raising more than $1 billion during
the third quarter and in excess of $2.8 billion in total gross offering
proceeds since the launch of its initial public offering in late 2009.
“With the close of our equity offering, we are proud to
report that the executives and employees of American Healthcare Investors and
Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare
REIT II, have purchased more than $15 million of common stock in our REIT,”
added Prosky.
“As we’ve long-maintained, we believe the managers of an
investment program should be significant investors in that program, and we are
proud to be standing shoulder-to-shoulder with our fellow stockholders.”
For a complete copy of the company’s news release, please
contact:
Damon Elder
(949) 270-9207
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