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IRVINE, CA – As the co-sponsor of Griffin-American Healthcare REIT III Inc. and Griffin-American Healthcare REIT IV Inc., American Healthcare Investors revealed its third-quarter activity; stating that it completed $99.5 million in acquisitions on behalf of the two REITs.
The completed acquisitions include five medical office buildings, one integrated senior health campus and one land parcel. Griffin-American Healthcare REIT III acquired an 86,000-square-foot integrated senior health campus in Indiana for $14.1 million, as well as a land parcel for $1 million. Griffin-American Healthcare REIT IV purchased five medical office buildings totaling 246,000 square feet throughout Illinois, Kansas, Massachusetts, Ohio and Tennessee for a total contract purchase price of $84.4 million.
The third quarter transactions bring American Healthcare Investors’ completed acquisition total for the year, to $192.1 million, based on the aggregate purchase price on behalf of the two publicly registered, non-traded REITS. The company continues to employ its approach to identify healthcare real estate and healthcare-related investment opportunities in the current marketplace, on behalf of the REITs.
Purchasing its first property in 2014, Griffin-American Healthcare REIT III has since built a diversified portfolio totaling 215 healthcare properties and real estate-related investments, with an estimated value of more than $3.67 billion. Portrayed in the REIT’s Q3 results, its portfolio holds a weighted average remaining lease term of 8.4 years and a leased percentage of 92.4%.
Purchasing its initial property in 2016, Griffin-American Healthcare REIT IV has since built its diversified portfolio to comprise 83 healthcare properties, valuing more than $1.13 billion. Its portfolio has a weighted average remaining lease term of 8.9 years and a leased percentage of 95.4%, according to the company’s Q3 report.
American Healthcare Investors is an investment management firm that specializes in acquiring and managing healthcare-related real estate. As one of the world’s largest healthcare real estate managers, the company handles an 18 million-square-foot portfolio, valuing $4 billion, on behalf of multiple investment programs.