Griffin-American Healthcare REIT III Inc., a publicly registered non-traded real estate investment trust sponsored by Griffin Capital Corp and American Healthcare Investors, completed property acquisitions totaling approximately $509.5 million and real estate-related investments of $1.9 million in 2016.
The acquisitions were comprised of 13 medical office buildings, six skilled nursing facilities, four senior housing facilities, expansion of the company’s investment in its portfolio of integrated senior health campuses and an increase of a debt investment.
“It was an active year for Griffin-American Healthcare REIT III as we worked to add value and further mature the portfolio,” said Danny Prosky, president, chief operating officer and one of the largest stockholders of the REIT. “As we begin 2017, our portfolio is valued at more than $2.9 billion, and while we have largely completed our portfolio build-out, we may complete additional acquisitions if strategic opportunities arise that complement our existing portfolio.”
Total acquisitions activity during the year resulted in the addition of approximately two million square feet of gross leasable area and approximately 2,670 licensed beds to the Griffin-American Healthcare REIT III portfolio.
Griffin-American Healthcare REIT III owns a portfolio of 201 medical office buildings, hospitals, senior housing facilities, skilled nursing facilities, integrated senior health campuses and real estate-related investments located throughout the United States and the United Kingdom valued at approximately $2.9 billion, based on total purchase price. The REIT commenced its initial public offering in February 2014 and closed in March 2015 after raising more than $1.9 billion.