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| Jeff Hanson |
IRVINE, CA – Griffin-American Healthcare REIT II, Inc. announced
operating results for the company’s first quarter ended March 31, 2014.
“During the first
quarter, Griffin-American Healthcare REIT II built on the tremendous success it
enjoyed in 2013, during which we concluded our capital formation with more than
$2.8 billion in total equity raised and expanded our nearly $3 billion portfolio
(based on aggregate acquisition price) internationally with the acquisition of
a premier portfolio of senior housing in the United Kingdom,” said Jeff
Hanson, chairman and chief executive officer.
“We completed
acquisitions totaling nearly $105 million during the quarter, and enjoyed
strong growth among several key financial metrics: funds from operations grew
115 percent, modified funds from operations grew 94 percent and net operating
income grew 88 percent compared to the first quarter 2013.”
President and chief
operating officer Dan Prosky added, “We continue to enjoy accretive
growth and to add significant value to Griffin-American Healthcare REIT II.
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| Dan Prosky |
“We have matured to become one of the largest healthcare
REITs in the country and continue to perform exceptionally well, with occupancy
in excess of 95 percent*, average remaining lease term of more than nine years*
and exceptionally low debt of just 15.7 percent (as a percentage of aggregate
portfolio purchase price).”
For a complete copy of the company’s news release, please
contact:
Damon Elder
SVP, Marketing & Communications
American Healthcare Investors
18191 Von Karman Avenue
Suite 300
Irvine, CA 92612
(949) 270-9207 direct
(714) 356-1460 cell
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