Griffin-American Healthcare REIT IV Completed Acquisitions Totaling More than $178 Million During the Third Quarter 2018
American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced today that the REIT completed the acquisition of 13 healthcare buildings in five states for an aggregate contract purchase price of approximately $178.4 million during the third quarter of 2018. The acquisitions were comprised of three medical office buildings, two senior housing facilities and eight skilled nursing facilities.
"We continue to acquire accretively for the quickly growing portfolio of Griffin-American Healthcare REIT IV," said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV. "Including acquisitions completed during and after the close of the third quarter, our portfolio is valued in excess of $800 million, based on aggregate contract purchase price, and we have more than $211 million in additional pending acquisitions1 that we expect to close in the coming months."
Griffin-American Healthcare REIT IV purchased its first property in June 2016 and to date has acquired a 3.4 million-square-foot portfolio of 58 medical office buildings, senior housing facilities and skilled nursing facilities located in 20 states, in addition to an interest in a joint venture which owns and operates a portfolio of integrated senior health campuses and ancillary businesses, for an aggregate contract purchase price of approximately $807.6 million. Additionally, the company is pursuing approximately $211.6 million in additional pending acquisitions1 which would result in a total portfolio of approximately 96 healthcare buildings located in 21 states comprised of approximately 4.6 million square feet of gross leasable area upon the successful completion of these potential acquisitions. As of Sept. 30, 2018, the company's portfolio has a weighted average remaining lease term of 9.5 years2 and leased percentage of 95.5 percent.