Griffin-American Healthcare REIT III will acquire Griffin-American Healthcare REIT IV in a tax-free, stock-for-stock transaction to create a combined company with a gross investment value of approximately $4.2 billion.
In addition to the merger, Griffin-American Healthcare REIT III has agreed to acquire the business and operations of American Healthcare Investors (AHI), the co-sponsor of both REITs and the external advisors of GAHR III and GAHR IV. This acquisition should occur immediately before the REIT merger, which is expected to close in the fourth quarter of 2021
Following this maneuvering, the new company will be called American Healthcare REIT. Its capabilities in acquisitions, asset management, finance, accounting and tax, are expected to provide operational cost savings of approximately $21 million annually.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
