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| 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
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