American Healthcare REIT Completes Merger with Griffin-American Healthcare REIT III

American Healthcare REIT Inc. recently completed its merger with Griffin-American Healthcare REIT III Inc. in a tax-free stock-for-stock transaction that created a combined company with a gross investment value of approximately $4.2 billion in healthcare real estate assets. In conjunction with the merger, the previously announced acquisition of American Healthcare Investors (AHI), the co-sponsor of both REITs, was completed.

The more than 100 employees of AHI including its three founders have become employees of the newly combined company. As a result, American Healthcare REIT is self-managed with capabilities across acquisitions, asset management, finance, accounting and tax. This is expected to result in operational cost savings of approximately $21 million annually based on the projected fees and expenses the companies would have likely incurred absent the successful completion of the merger transaction and AHI acquisition. “As a large, diverse and self-managed healthcare REIT, we believe we are strategically positioned to pursue a future listing or IPO on a national stock exchange that would provide liquidity to our existing stockholders, and unlock greater growth and value enhancement opportunities as a publicly traded company,” said Danny Prosky, chief executive officer and president.