Newly Formed REIT Acquires Three Atlanta Medical Office Buildings

ATLANTA—The sponsors of Griffin-American Healthcare REIT III, American Healthcare Investors and Griffin Capital Corp., report that the REIT has reached its minimum offering and has reached agreement to acquire three Atlanta-area medical office buildings for an aggregate purchase price of $12.1 million.

American Healthcare and Griffin Capital report that the REIT reached its minimum offering of $2 million in subscriptions. The three new medical office building acquisitions include the 16,315-square-foot Country Club Medical Office Building in Stockbridge, GA, the 37,500-square-foot Acworth Medical Complex in Acworth, GA, and the nearly 19,000-square-foot DeKalb Professional Center in Lithonia, GA.

“Each of these medical office buildings is located near, or closely affiliated with, a large hospital system in the heart of a thriving community with growing demand for healthcare services,” says Dan Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT III. “These are among the key traits we seek when evaluating an asset for acquisition, and make these three Atlanta-area medical office buildings ideal acquisitions for Griffin-American Healthcare REIT III.”