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Griffin-American Healthcare REIT III Increases Net Asset Value

The board of Griffin-American Healthcare REIT III Inc., a publicly registered non-traded real estate investment trust co-sponsored by American Healthcare Investors and Griffin Capital Company, has approved an updated estimated net asset value per share of its common stock.

The board of Griffin-American Healthcare REIT III Inc., a publicly registered non-traded real estate investment trust co-sponsored by American Healthcare Investors and Griffin Capital Company, has approved an updated estimated net asset value per share of its common stock of $9.37, calculated as of June 30, 2018.

Griffin-American Healthcare REIT III previously declared an NAV per share of $9.27 in 2017, and an NAV per share of $9.01 in 2016. Shares were originally sold for $10.00 each.

“We continue to be very pleased with the performance of Griffin-American Healthcare REIT III, which acquired its first property a little more than four years ago and has since established a premier international portfolio of 210 healthcare properties and real estate-related investments valued at approximately $3.4 billion,” said Jeff Hanson, chairman and CEO of Griffin-American Healthcare REIT III.

He added, “The continued year-over-year growth in our estimated per share net asset value demonstrates the continued maturation of our portfolio and validates our investment thesis, which is to aggregate attractive healthcare real estate assets into a significant portfolio that generates value and income for our stockholders.”

The valuation is based upon the estimated value of the REIT’s assets, less the estimated value of its liabilities, divided by the number of shares of common stock outstanding.

Robert A. Stanger & Co., a third-party independent valuation and consulting firm, assisted with the valuation process, which was performed in accordance with Institute of Portfolio Alternatives guidelines.

Griffin-American Healthcare REIT III invests in healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities, and owns a $3.4 billion portfolio comprised of 210 properties. The company commenced its initial public offering in February 2014 and closed in March 2015 after raising more than $1.9 billion.

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