IRVINE, CA—Griffin-American Healthcare REIT IIIis continuing its strong healthcare real estateacquisition activity by entering into an agreementto acquire a portfolio of medical-office buildingsin New York, New Jersey, Massachusetts and Kentucky for $135million. GlobeSt.com has learned that the seller is KadimaMedical Properties LLC.
American Healthcare Investors andGriffin Capital Corp., co-sponsors of the REIT,have announced its intention to acquire IndependenceMedical Office Building Portfolio, which is composed offive buildings totaling approximately 461,000 square feet in NewYork City; Verona and Morristown, NJ; Somerville, MA; andSouthgate, KY. According to Danny Prosky, aprincipal of AHI and president and COO of the REIT, “Theacquisition of this portfolio will significantly expandGriffin-American Healthcare REIT III in core urbanareas located near major academic and healthcare institutions. Theportfolio is strongly aligned with major healthcare providers andis more than 96% occupied.”
REIT executives declined to discuss with GlobeSt.com the appealof the specific markets within the portfolio or anything else aboutthe transaction because it is currently an open-offering period. Wewill update this story with more information as it becomesavailable.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
