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Griffin-American Healthcare REIT IV’s Acquisition Activity Hits $200M Q4 2018
Irvine, CA-based Griffin-American Healthcare REIT IV, Inc. completed the acquisition of 11 healthcare buildings in five states, and a 6% JV membership interest in Trilogy Investors, LLC for an aggregate contract purchase price of roughly $200.4 million during Q4 2018.
Acquisitions include:
- Michigan Assisted-Living Facility Portfolio: The first tranche consists of six buildings within five senior housing facilities totaling roughly 272,000 square feet and 302 units throughout Michigan. Assets were acquired in a sale-leaseback transaction with the operator, Vista Springs Assisted Living, which will lease the properties through 2033.
- Modesto, CA Medical Office Building: Located on the campus of the 461-bed Doctors Medical Center, the three-story, 57,000-square-foot MOB is 92% leased. First California Physicians Partners leased 81% through 2030.
- Mill Creek, WA Medical Office Building: The 100% leased, single-story MOB comprised of roughly 22,000 square feet is leased to five tenants under NNN lease structures.
- Lawrenceville, GA Medical Office Building II (pictured): Adjacent to the campus of the 353-bed Gwinnett Medical Center, the two-story, 45,000-square-foot MOB is 100% leased to multiple tenants.
- Flemington, NJ Medical Office Building Portfolio: Built in 1993 and 2002, the two-building MOB portfolio totals roughly 49,000 square feet, and was 99% leased to 14 tenants, including Hunterdon Medical Center.
The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Company, LLC.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
