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| Randy Bufford |
IRVINE, CA - Griffin-American
Healthcare REIT III, Inc. (“Griffin-American”) nnounced that, pursuant to a
joint venture with NorthStar Healthcare Income, Inc. (“NorthStar Healthcare”),
it has completed the acquisition of approximately 96 percent of Trilogy
Investors, LLC (“Trilogy”), the parent company of Trilogy Health Services LLC,
for a purchase price that is based on a total company valuation of
approximately $1.125 billion.
Griffin-American owns 70
percent of the joint venture and acts as its manager. NorthStar Healthcare owns
30 percent of the joint venture. As part
of the transaction, Randy Bufford,
Trilogy’s founder and chief executive officer, and other members of Trilogy’s
management have retained an approximately 4 percent equity interest in Trilogy.
Bufford and his executive team will continue
to manage the Trilogy assets on behalf of the joint venture.
For a complete copy of the company’s news release,
please contact:
Damon Elder
(949) 270-9207
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