American Healthcare Investors and Griffin Capital to Launch Fourth Healthcare REIT
A form S-11 was filed with the Securities and Exchange Commission on July 30 to register shares of common stock for Griffin-American Healthcare REIT 4, the fourth healthcare real estate investment trust co-sponsored by American Healthcare Investors and Griffin Capital Corp.
Following the success of Griffin-American’s previous healthcare investment programs, the new company will also focus primarily on investing in medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities.
Griffin-American Healthcare REIT 4 is offering up to $3 billion in shares of common stock, consisting of two classes of shares, Class A and Class T. Class A shares of common stock will be sold for $25.00 per share (up to $1.5 billion in shares), and Class T shares will be sold for $23.94 per share (up to $1.5 billion in shares).
The company will also offer up to $150 million in shares for the distribution reinvestment plan at a purchase price of 95 percent of the primary offering price per share. The DRIP price for Class A shares is $23.75, while Class T shares will be offered for $22.75.
The REIT will be externally managed by Griffin-American Healthcare REIT 4 Advisor LLC and intends to qualify as a real estate investment trust beginning with their taxable year ending December 31, 2015, or the first year in which they commence material operations.
American Healthcare Investors is an investment management firm that specializes in the acquisition and management of healthcare-related real estate, including medical office buildings, senior housing, skilled nursing and hospitals. American Healthcare Investors manages a growing portfolio valued in excess of $6.9 billion and located throughout the United States and the United Kingdom
Griffin Capital is a privately-owned real estate company headquartered in Los Angeles. The company and its affiliates have acquired or constructed more than 41 million square feet of space since 1995, and currently own, manage, sponsor and/or co-sponsor a portfolio of approximately 26.7 million square feet located in 29 states, representing approximately $4.6 billion in asset value, based on purchase price.
