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| Dan Prosky |
ATLANTA, GA – American Healthcare Investors and Griffin
Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III,
Inc., announced the REIT has acquired Acworth Medical Complex, an
approximately 39,000-square-foot medical office building in the Atlanta suburb
of Acworth.
Located at 4769,
4791 and 4797 South Main Street, Acworth Medical Complex is approximately 83
percent leased to four tenants, including Emory Specialty Associates LLC, a
wholly owned subsidiary of Emory Healthcare, Northside Hospital and Eldercare
Pharmacy, which in the aggregate lease approximately 69 percent of the space
through June 2020.
A number of medical services are provided at the building,
including: pharmacological, nursing, cardiac imaging and cancer care.
Emory Healthcare,
the building’s principal tenant, is the largest comprehensive healthcare system
in Georgia, with 1,830 licensed patient beds, 9,000 employees and more than 20
health centers located throughout Greater Atlanta. Emory has an Aa2 credit rating, as provided by Moody’s
Corporation.
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| Acworth Medical Complex, Acworth, GA |
“Acworth Medical
Complex is affiliated with two of Atlanta’s most prestigious hospital systems
in Emory and Northside,” said Dan Prosky, a principal of American
Healthcare Investors and president and chief operating officer of
Griffin-American Healthcare REIT III.
“Additionally, it is both an attractive and modern medical office
building, having undergone a comprehensive renovation in 2009.”
Acworth Medical
Complex was acquired from unaffiliated third party investors represented by
Spencer Coan of SK Commercial Realty.
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
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