NEWPORT BEACH, CA-Griffin-American Healthcare REIT IIInc. has just grown its portfolio by six assets in a dealvalued at $108.7 million. According to a company statement, thatpushes the value of the REIT’s portfolio to $1.1billion in 121 buildings across 26 states.
The latest additions include East Los Angeles DoctorsHospital, Memorial Hospital of Gardena and CoastPlaza Hospital in Norwalk, CA. These acute-carefacilities, all part of the Los Angeles Hospital Portfoliopurchased from Avanti Hospitals, consist of 416beds and total 296,000 square feet of clinical space. KevinRoy of Healthcare Finance Partners didthe deal. Griffin-American financed the acquisition using $86.5million from its unsecured line of credit with Bank ofAmerica, N.A. and paid the remaining in cash.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
