IRVINE, CA—With more than $500 million of pending acquisitions still in its pipeline, Griffin-American Healthcare REIT III is bulking up its portfolio. The healthcare REIT said Friday it had acquired 19 properties in six separate deals worth a total of $340 million.

In all, the REIT, cosponsored by American Healthcare Investors and Griffin Capital Corp., acquired 17 medical office buildings, an acute care hospital and a senior housing facility. The acquisitions more than double Griffin-American III's portfolio to 29 properties across 14 states.

Ten of the properties, purchased in two separate deals, are in Texas. In one deal, Griffin-American III acquired Southlake Hospital, a 70-bed acute care facility in the Dallas/Fort Worth suburb of Southlake, TX and net leased through 2033 to Forest Park Medical Center, a physician-owned hospital system. The property was acquired from South Texas Medical Development LP, an unaffiliated third party represented by Marty Cohan of Marcus & Millichap.

In the other, the REIT bought the East Texas Medical Office Building Portfolio, a nine-building, 393,000-square-foot portfolio consisting of multi- and single-tenant MOBs primarily on or adjacent to the campuses of the Good Shepherd Medical Centers in Longview and Marshall, TX. Sean Tu of Cain Brothers represented the seller, Good Shepherd Health System.

Another portfolio deal, this one spanning three states, was the non-traded REIT's acquisition of the Mount Olympia MOB portfolio, totaling 53,000 square feet and located in Mount Dora, FL, Olympia Fields, IL and Columbus, OH. It's 97% leased to multiple tenants and was acquired from from IRA Mt. Carmel LLC, IRA Mt. Dora LLC and IRA Holdings II LLC, all of which were represented by CBRE's Lee Asher and Chris Bodnar.

Also spanning three states, the four-building, 378,000-square-foot Independence MOB portfolio is currently 96% leased to more than 70 tenants in the New York City suburbs of Verona and Morristown, NJ; the Boston suburb of Somerville, MA; and Southgate, KY, located three miles south of Cincinnati across the Ohio River. Steve Hall of HealthAmerica Realty Group represented the seller, Kadima Medical Properties LLC.

In the Detroit suburb of Novi, MI, Griffin-American III acquired a 92% leased MOB from Affiliated Investors LLC, represented by Barry Swatsenbarg and Rich Deptula of Friedman Integrated Real Estate Solutions. Finally, the REIT bought an assisted living facility in Spingdale, AR that completed its acquisition of the three-building Delta Valley Assisted Living Portfolio.

This past September, the trust closed on the acquisition of the other two components, located in Batesville and Cleveland, MS. The Delta Valley portfolio is 100% master leased to the seller, Providence Management LLC, under a 15-year absolute net lease with two 10-year renewal options. Dan Revie of Ziegler and Cos. Inc. represented Providence Management in the sale of the Springdale facility.

“We couldn't be more pleased with the rate at which we're achieving size and scale in an institutional-grade portfolio while continuing to demonstrate the discipline that our stockholders have grown to expect from us,” says Jeff Hanson, the REIT's chairman and CEO.  “We began acquiring properties in June 2014 and are on the cusp of owning a portfolio valued at nearly $1 billion,” including pending acquisitions. Griffin-American III's predecessor, Griffin-American Helathcare REIT II, finalized its $4-billion merger with NorthStar Realty Finance Corp. earlier this month.