Griffin-American Buys Five Medical Office Buildings

NEWPORT BEACH, CA—American Healthcare Investors and Griffin Capital Corp., the co-sponsors of Griffin-American Healthcare REIT II, Inc., say they have purchased five medical office buildings by the REIT for an aggregate purchase price of approximately $46 million. The acquired buildings are near Denver, Atlanta, Indianapolis and Detroit.

The REIT's portfolio currently totals 153 buildings valued at approximately $1.42 billion, based on purchase price, diversified across 28 states and all four clinical asset classes: medical office buildings, skilled nursing facilities, hospitals and assisted living facilities.

“A key component of our acquisition strategy for Griffin-American Healthcare REIT II is to purchase quality medical office buildings that are located on or near thriving hospital campuses and that enjoy strong affiliations with the nation's best performing healthcare delivery systems,” explained Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT. “Each of these acquisitions meet these high standards and further strengthen our balanced portfolio of clinical healthcare real estate assets.”