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| Jeff Hanson |
IRVINE, CA (May 18, 2015) - Griffin-American Healthcare REIT
III, Inc. today announced operating results for the company’s first quarter
ended March 31, 2015.
“During the first quarter, Griffin-American Healthcare REIT
III successfully completed the primary portion of its initial public offering
launched in February 2014, which resulted in the investment of more than $1.84
billion of equity in our company,” said Jeff
Hanson, chairman and chief executive officer.
“We are rapidly investing this capital, as evidenced by the
more than $350 million in acquisitions completed during the quarter and the
approximately $500 million of pending acquisitions1 we expect to complete over
the course of the next several months.”
President and chief operating officer Danny Prosky added, “We are clearly focused on accretive portfolio
growth and continue to add significant value to Griffin-American Healthcare
REIT III as we deploy our capital.
"At the close of the first quarter, the
portfolio was 95.9 percent occupied with an average remaining lease term of
more than 8 years and exceptionally low debt of less than 2 percent.”
For a complete copy
of the company’s news release, please contact:
Damon Elder
(949) 270-9207
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