Griffin-American REIT NOI Rises 88%

IRVINE, CA—Griffin-American Healthcare REIT II has reported a strong first quarter with $105 million in acquisitions, portfolio growth to $2.9 billion based on purchase price, FFO growth of 115%, modified funds from operations up 94%, NOI increasing 88% and net income up 83%. Executives for the REIT consider the first-quarter results to be very successful.

“During the first quarter, Griffin-American Healthcare REIT II built on the tremendous success it enjoyed in 2013, during which we concluded our capital formation with more than $2.8 billion in total equity raised and expanded our nearly $3-billion portfolio (based on aggregate acquisition price) internationally with the acquisition of a premier portfolio of senior housing in the United Kingdom,” says Jeff Hanson, chairman and CEO for the REIT.