{"id":1004047554,"date":"2012-09-28T06:43:00","date_gmt":"2012-09-28T14:43:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004047554"},"modified":"2022-12-08T10:22:43","modified_gmt":"2022-12-08T18:22:43","slug":"griffin-american-healthcare-acquires-three-assets-for-60m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/","title":{"rendered":"Griffin-American Healthcare Acquires Three Assets for $60M"},"content":{"rendered":"

By Gail Kalinoski, Contributing Editor<\/strong><\/p>\n

\"\"<\/a><\/p>\n

Griffin-American Healthcare REIT II, Inc. continues building its portfolio of medical office buildings and healthcare properties with the acquisition of three assets \u2013 two in Tennessee and one in Texas \u2013 \u00a0for $60 million.<\/p>\n

The latest acquisitions bring the REIT\u2019s total portfolio to 113 buildings in 26 states valued at $985 million. As of June 30, its portfolio was 96.1 percent leased with average remaining lease terms of nine years. American Healthcare Investors and Griffin Capital Corp., the co-sponsors of the REIT, said the portfolio has grown by about 125 percent since Jan. 1, 2012.<\/p>\n

\u201cWe continue to source attractive acquisition opportunities, which we believe provide greater scale and diversification to the portfolio of Griffin-American Healthcare REIT II,\u201d said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of the REIT. \u201cWe have more than doubled the size of the REIT\u2019s portfolio since the beginning of the year.\u201d<\/p>\n

The new assets include the East Tennessee Medical Office Building Portfolio, two single-tenant, two-story medical office buildings on the campus of Provision Health Alliance in Knoxville, Tenn. With a total of 167,000 square feet, the two buildings are master leased to Provision Healthcare through 2024.\u00a0 The portfolio was acquired from an unaffiliated third party represented by E. Hunter Beebe of Healthcare Real Estate Capital L.L.C. The REIT financed the deal with a $50 million loan from its unsecured line of credit with Bank of America, N.A., and cash.<\/p>\n

The third property is the DeSoto Medical Office Building, a single-story building with 30,000 square feet in the Dallas suburb of DeSoto, Texas. It is fully leased to four tenants through November 2018. It was acquired from Caddis Partners, an unaffiliated third party represented by Cain Brothers. The REIT financed the transaction with $5.5 million borrowed from its unsecured line of credit and cash.<\/p>\n

In July, the REIT announced it had acquired 14 medical office buildings in nine states for $106.7 million between May 22 and July 11. On May 1, REIT officials said they had purchased five medical office buildings for $52.5 million in three states<\/a>. The Griffin-American Healthcare REIT had previously been the Grubb & Ellis Healthcare REIT II. In November, 2011, Griffin Capital and American Healthcare Investors were selected by the Grubb & Ellis board of directors to take over sponsorship of the REIT. The New York Stock Exchange de-listed Grubb & Ellis in January and the REIT was renamed.<\/p>\n","protected":false},"excerpt":{"rendered":"

The healthcare REIT has bought two medical office buildings in Tennessee and one in Texas, bringing its total portfolio to 113 buildings.<\/p>\n","protected":false},"author":1068,"featured_media":1004047555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742],"tags":[],"class_list":["post-1004047554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-latest"],"acf":[],"yoast_head":"\nGriffin-American Healthcare Acquires Three Assets for $60M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Griffin-American Healthcare Acquires Three Assets for $60M\" \/>\n<meta property=\"og:description\" content=\"The healthcare REIT has bought two medical office buildings in Tennessee and one in Texas, bringing its total portfolio to 113 buildings.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-09-28T14:43:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T18:22:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"748\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/\",\"name\":\"Griffin-American Healthcare Acquires Three Assets for $60M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg\",\"datePublished\":\"2012-09-28T14:43:00+00:00\",\"dateModified\":\"2022-12-08T18:22:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg\",\"width\":\"1024\",\"height\":\"748\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Griffin-American Healthcare Acquires Three Assets for $60M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Griffin-American Healthcare Acquires Three Assets for $60M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/","og_locale":"en_US","og_type":"article","og_title":"Griffin-American Healthcare Acquires Three Assets for $60M","og_description":"The healthcare REIT has bought two medical office buildings in Tennessee and one in Texas, bringing its total portfolio to 113 buildings.","og_url":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-09-28T14:43:00+00:00","article_modified_time":"2022-12-08T18:22:43+00:00","og_image":[{"width":1024,"height":748,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/","url":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/","name":"Griffin-American Healthcare Acquires Three Assets for $60M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg","datePublished":"2012-09-28T14:43:00+00:00","dateModified":"2022-12-08T18:22:43+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg","width":"1024","height":"748"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/griffin-american-healthcare-acquires-three-assets-for-60m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Griffin-American Healthcare Acquires Three Assets for $60M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/09\/REIT_Gail.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004047554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004047554"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004047554\/revisions"}],"predecessor-version":[{"id":1004618583,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004047554\/revisions\/1004618583"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004047555"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004047554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004047554"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004047554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}