NEWPORT BEACH, CA-GlobeSt.com has learned exclusively that American Healthcare Investors and Griffin Capital Corp., co-sponsors of Griffin-American Healthcare REIT II, have acquired 20 healthcare-related buildings for the REIT for an aggregate purchase price of approximately $141.3 million. The acquisitions include 17 medical-office buildings and three skilled-nursing facilities located in Georgia, Illinois, Indiana, Pennsylvania and Texas.
The REIT’s most-recent acquisitions since April 26 include:
- Central Indiana Medical Office Portfolio—approximately 594,000 square feet of medical- office space located in the Indiana cities of Avon, Bloomington, Carmel, Fishers, Indianapolis, Lafayette, Muncie and Noblesville; acquired from entities affiliated with Cornerstone Cos. Inc.
- Pennsylvania Skilled Nursing Portfolio-two skilled-nursing facilities totaling approximately 75,000 square feet and 263 licensed beds in Milton and Watsontown, PA; acquired from Millennium Management, an unaffiliated third party represented by Mark Davis of Healthcare Transactions Group Inc.
- Rockwall Medical Office Building II—a single-story, multi-tenant medical-office building consisting of approximately 18,000 square feet on the campus of Texas Health Presbyterian Hospital in the Dallas suburb of Rockwall, TX; acquired from RockMed Partners LP, an unaffiliated third party represented by Jeff Matulis and Toby Scrivner of Stan Johnson Co.
- Pittsfield Skilled Nursing Facility—an approximately 42,000-square-foot building in the Western Massachusetts city of Pittsfield; acquired off-market from Sheehan Health Group, an unaffiliated third party.
- Des Plaines Surgical Center—a three-story, approximately 47,000-square-foot medical-office building located within 1 mile of Advocate Lutheran General Hospital in the Chicago suburb of Des Plaines, IL; acquired from AAC Golf Road LLC, an unaffiliated third party represented by John Abuja and John Smelter of Marcus & Millichap.
- Fairview Skilled-Nursing Facility—a single-story, 43-unit skilled-nursing facility licensed to operate up to 102 beds in Grants Pass, OR; acquired from an entity affiliated with Regency Pacific.
- Winn Medical Center Medical Office Portfolio—four two-story medical-office buildings adjacent to the campus of DeKalb Medical Center and approximately 2 miles east of Emory University Hospital in Decatur, GA; acquired from Ackerman Winn Way LLC, an unaffiliated third party represented by Andrew Murphy and Spencer Coan of Ackerman & Co.
According to Danny Prosky, a principal of AHI and president and COO of the REIT, “In a competitive market, we are proud to be among the most-active buyers of healthcare real estate as we continue to build a diverse portfolio on behalf of stockholders.”
GlobeSt.com was unable to reach Prosky before deadline to discuss the significance of the most recent acquisitions.
The REIT’s portfolio currently totals 174 buildings acquired for approximately $1.56 billion, diversified across 28 states and all four clinical-asset classes: medical office buildings, skilled-nursing facilities, hospitals and assisted-living facilities.
As GlobeSt.com reported in January, AHI and Griffin Capital Corp. spent approximately $183.6 million in the month of December 2012 on 14 healthcare-related assets for the REIT. The acquisitions totaled nine medical-office buildings and five assisted-living facilities in California, Florida, North Carolina, Indiana and Alabama.