Griffin-American Healthcare REIT III Declares Estimated NAV Per Share of $9.01
The board of Griffin-American Healthcare REIT III Inc., a publicly registered non-traded real estate investment trust, approved an estimated per share net asset value of its common stock of $9.01, as of June 30, 2016.
“We are very pleased with the growth and performance of Griffin-American Healthcare REIT III, which acquired its first property just 28 months ago and has since built a premier international healthcare portfolio purchased for approximately $2.7 billion located throughout the United States and the United Kingdom,” said Jeff Hanson, chairman and CEO of Griffin-American Healthcare REIT III.
Robert A. Stanger & Co. provided an estimated per share NAV of $9.01 to the company’s board following their appraisal of the REIT’s portfolio. In compliance with the Investment Program Association’s valuation guidelines, the estimate does not include a portfolio premium or other adjustments to value that would be expected in a real world transaction. In December 2014, Griffin-American Healthcare REIT II was sold for $4 billion after investing $3 billion to acquire its portfolio.
Griffin-American Healthcare REIT III, which closed its primary offering in March 2015, invests in a diversified portfolio of healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. As of June 30th, the REIT owned 186 properties and has raised $1.9 billion in investor equity.
