Aviv REIT in Solid Financial Position

CHICAGO—Last week, Aviv REIT, Inc., a Chicago-based trust that specializes in owning healthcare properties, released its first quarter results and seems to have scored a hit with analysts. Its AFFO for the quarter was $23.6 million, or $0.46 per share, compared to $20.9 million, or $0.41 per share, for fourth quarter of 2013, an increase of 12%. Company officials attribute the growth to the company’s acquisition activity.

The trust, which conducted a $304 million IPO in March 2013, reported $104.4 million of acquisitions at an initial cash yield of 10%. This followed $159 million of acquisitions in the fourth quarter and $239 million of total investments in 2013. In March, for example, it acquired nine post-acute and long-term care skilled nursing facilities in Kentucky and Iowa in two separate transactions for $48.5 million.