Griffin-American Healthcare REIT IV to Buy Medical Office Building Near Charlotte
Griffin-American Healthcare REIT IV Inc., a publicly registered non-traded real estate investment trust sponsored by Griffin Capital Corp and American Healthcare Investors, entered into an agreement to purchase Mint Hill Medical Office Building in the Charlotte suburb of Mint Hill, North Carolina. The purchase price is $21 million, according to a filing with the Securities and Exchange Commission.
The three-story, 58,000-square-foot Mint Hill Medical Office Building is 100 percent triple net leased to two tenants, Carolinas Physicians Network, Inc. and The Charlotte-Mecklenburg Hospital Authority. The tenants are affiliates of Carolinas HealthCare System, for which the building was built-to-suit in 2007.
“Mint Hill Medical Office Building would be a fine addition to the rapidly growing portfolio of Griffin-American Healthcare REIT IV,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT IV. “It is a modern building, 100 percent leased to affiliates of an investment grade credit tenant and one of the finest healthcare providers in the region.”
A number of healthcare services are provided at Mint Hill Medical Office Building, including allergy, biorepository, cardiology, dermatology, endocrinology, gastroenterology, pulmonary and critical care, sleep medicine, sports medicine, telemedicine and urgent care.
Griffin-American Healthcare REIT IV invests in healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. The REIT commenced its initial public offering in February 2016, and as of August 26, 2016, has raised approximately $37 million in investor equity since inception.
