Griffin-American Healthcare REIT III Meets Minimum Offering, Enters Agreements to Acquire Three Atlanta Medical Office Buildings

Dan Prosky

ATLANTA (May 14, 2014) – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT reached its minimum offering of $2 million in subscriptions on May 12.

 As a result, all initial subscribers have been admitted as stockholders of Griffin-American Healthcare REIT III and proceeds from initial subscriptions that had been placed in escrow until the minimum offering was reached have been released by the escrow agent, provided that residents of Washington and Pennsylvania will not be admitted until aggregate subscriptions exceed $20 million and $87.5 million, respectively, in shares sold. 

These funds are now available to the REIT for the acquisition of real estate assets and other purposes. 

“Each of these medical office buildings is located near, or closely affiliated with, a large hospital system in the heart of a thriving community with growing demand for healthcare services,” said Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. 

“These are among the key traits we seek when evaluating an asset for acquisition, and make these three Atlanta-area medical office buildings ideal acquisitions for Griffin-American Healthcare REIT III.”

For a complete copy of the company’s news release, please contact:

Damon Elder  

(949) 270-9207

delder@ahinvestors.com