Griffin-American Healthcare REIT III announced today that its initial public offering has been declared effective by the Securities and Exchange Commission as of February 26, 2014.
The $1.9 billion offering intends to qualify as a REIT and will focus on building a portfolio composed of healthcare real estate assets such as medical office buildings, senior housing facilities, skilled nursing facilities, and hospitals.
This offering comes as the younger sibling to Griffin-American Healthcare REIT II (GA HC REIT II), which has been closed to new investors since October 30, 2013. GA HC REIT II was able to raise over $2.8 billion from the inception of its initial offering in August 2009 until its closing in October 2013. Its portfolio has an aggregate purchase price of $2.23 billion with 230 properties located throughout the United States and the United Kingdom.
Like GA HC REIT II, Griffin-American Healthcare REIT III is co-sponsored by American Healthcare Investors and Griffin Capital Corporation.