Griffin-American Healthcare REIT III Enters Agreement to Acquire Portfolio of Medical Office Buildings in New York, New Jersey, Massachusetts and Kentucky for $135 Million

Danny Prosky

IRVINE, CA – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., announced that the REIT has entered into an agreement to acquire Independence Medical Office Building Portfolio, comprised of five buildings totaling approximately 461,000 square feet in New York, New York; Verona and Morristown, New Jersey; Somerville, Massachusetts; and Southgate, Kentucky for an aggregate purchase price of approximately $135 million. 

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

“The acquisition of Independence Medical Office Building Portfolio will significantly expand Griffin-American Healthcare REIT III in core urban areas located near major academic and healthcare institutions,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III.

 “The portfolio is strongly aligned with major healthcare providers and is more than 96 percent occupied.”

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

Damon Elder                                                                                   

(949) 270-9207

delder@ahinvestors.com