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Griffin-American Healthcare REIT II Acquires 6th Assisted Living Facility

Griffin-American Healthcare REIT II, Inc has recently purchased Carillon Assisted Living in Durham, North Carolina. According to the Triangle Business Journal, the non-traded REIT purchased the property located on Garrett Road for $21 million.

Griffin-American Healthcare REIT II already owns five assisted living facilities in North Carolina, all of which are 100% leased to Carillon under a 15 year absolute net-lease. The five facilities total approximately 183,000 square feet and 480 beds. The properties were acquired in December 2012 for $75 million.

Carillon has 17 assisted living facilities in North Carolina and is home to over 1,000 residents. The company specializes in assisted living but also has a facility dedicated to Alzheimer’s care.

Griffin-American Healthcare REIT II’s portfolio consists of healthcare-related real estate assets such as medical office buildings, senior housing facilities, hospitals, and skilled nursing facilities. It is sponsored by American Healthcare Investors and Griffin Capital Corporation.

The company raised $1.6 billion before closing to new investors. As of September 30, 2013, Griffin-American Healthcare REIT II had completed 67 acquisitions with an aggregate purchase price of approximately $2.23 billion.