Griffin-American Healthcare REIT III Acquires DeKalb Professional Center Near Atlanta, GA

Dan Prosky

ATLANTA, GA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced today that the REIT has acquired DeKalb Professional Center, an approximately 19,000-square-foot medical office building in the Atlanta suburb of Lithonia. 

 Located at 5461 Hillandale Drive, DeKalb Professional Center is in the midst of a thriving medical corridor approximately one mile from DeKalb Medical Hillandale, a 100-bed acute care hospital.

Built in 2008, the medical office building is 81 percent leased to four tenants, including RMS Lifeline and The Emory Clinic, which combine to lease approximately 60 percent of the building’s rentable space through 2018.  In total, the weighted average remaining lease term for the building is more than six-and-a-half years.

“DeKalb Professional Center was built in 2008 and is a modern medical office building located in close proximity to a premier hospital in a thriving community,” said Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. 

 DeKalb Professional Center was acquired from McWhirter Realty Partners, LLC, an unaffiliated third party represented by CBRE’s Lee Asher and Chris Bodnar.  Griffin-American Healthcare REIT III financed the acquisition using cash on hand.  

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

Damon Elder                                                                                              

(949) 270-9207

delder@ahinvestors.com