The board of Griffin-American Healthcare REIT IV Inc., a publicly registered non-traded real estate investment trust co-sponsored by American Healthcare Investors and Griffin Capital Company, has approved an estimated net asset value per share of $9.54 for the company’s Class T and Class I common stock as of December 31, 2018.
The REIT’s previous NAV per share was $9.65 as of December 31, 2017. Share were originally sold for $10.00 each.
“We are very pleased with this valuation of our portfolio and with the overall performance of Griffin-American Healthcare REIT IV, which began to acquire its portfolio less than three years ago, in June 2016,” said Jeff Hanson, chairman and CEO of Griffin-American Healthcare REIT IV. “Griffin-American Healthcare REIT IV is still in the early stages of its lifecycle, and this valuation report and our consistently strong performance leaves us very optimistic about our long-term prospects.”
CBRE Capital Advisors Inc., an independent broker-dealer that provides real estate and financial services, assisted with the valuation process, which was performed in accordance with the Investment Program Association’s valuation guidelines for non-traded REITs.
Griffin-American Healthcare REIT IV invests in medical office buildings, senior housing facilities and skilled nursing facilities and oversees a $982 million portfolio as of March 29, 2019. The company noted that it is pursuing a pipeline of $154 million in pending acquisitions that would result in a total portfolio in excess of $1.1 billion. The REIT launched its initial public offering in February 2016 and has raised approximately $754 million in investor equity. The offering closed on February 15, 2019.