American Healthcare Investors completed the acquisition of four medical office buildings, one integrated senior health campus and one land parcel for an aggregate contract purchase price of approximately USD44 million, and completed developments for approximately USD15 million during the fourth quarter of 2019, for Griffin-American Healthcare REIT III, and Griffin-American Healthcare REIT IV.The firm completed nearly USD262 million in aggregate acquisitions and developments based on contract purchase price on behalf of the REITs during the entirety of 2019.
“It was another active year of acquisitions on behalf of Griffin-American Healthcare REIT IV, which acquired an excess of USD201 million of aggregate acquisitions, based on contract purchase price, during the year and has established a mature portfolio valued at approximately USD1.17 billion,” says Stefan Oh, executive vice president of acquisitions for American Healthcare Investors. “For Griffin-American Healthcare REIT III, which owns an expansive international portfolio valued at more than USD3.66 billion,2 we were able to identify attractive acquisition opportunities that complement the already impressive group of assets.”
Griffin-American Healthcare REIT III purchased its first property in June 2014 and has since built a diversified international portfolio comprised of 220 healthcare properties and real estate-related investments acquired for USD3.06 billion and which has an estimated value in excess of USD3.66 billion. As of 31 December, 2019, the company’s portfolio has a weighted average remaining lease term of 7.5 years and leased percentage of 91.9 percent.
Griffin-American Healthcare REIT IV purchased its first property in June 2016 and has since built a diversified portfolio comprised of 87 healthcare properties, including an interest in a joint venture which owns and operates a portfolio of integrated senior health campuses and ancillary businesses, acquired for USD1.12 billion, and which has an estimated value in excess of USD1.17 billion.1 As of 31 December, 2019, the company’s portfolio has a weighted average remaining lease term of 8.6 years and leased percentage of 95.5 per cent.