 |
| Stefan Oh |
SURPRISE, AZ – American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors
of Griffin-American Healthcare REIT IV, Inc., announced the REIT has acquired Surprise
Medical Office Building, located in the Phoenix suburb of Surprise,
Arizona, for $11.7 million.
Built in 2012, the approximately 34,000-square-foot Surprise
Medical Office Building is currently 89.5 percent leased to three tenants.
Approximately
72 percent of the building is leased to two Banner Health-affiliated tenants,
Banner Medical Group and the Center for Orthopedic Research and Education,
Inc., whose leases have expiration dates in 2022 and 2028, respectively. All
tenant leases include annual rent escalators of between 2.5 percent and three
percent.
“Surprise Medical Office Building is strategically located near
two major hospitals in a rapidly growing suburb of Phoenix where the average
population growth exceeds the national average,” said Stefan Oh,
executive vice president of acquisitions for American Healthcare Investors and
Griffin-American Healthcare REIT IV.
“The
local population also includes a significant segment of senior citizens within
a 15-mile radius of the property. We believe all of these factors make Surprise
Medical Office Building an exceptional acquisition to the growing portfolio of
Griffin-American Healthcare REIT IV.”
For more information, please contact:
No comments:
Post a Comment