Griffin-American Healthcare REIT III, Inc., a newly-formed entity sponsored by American Healthcare Investors and Griffin Capital Corporation, announced this week that it had entered into agreements to acquire three medical office buildings located in Greater Atlanta for an aggregate purchase price of approximately $12.1 million. 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," said 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."
According to a Commercial Property Executive article, the healthcare real estate sector has been growing at a fantastic rate over the past two years. Griffin-American raised nearly $750 million in investor equity in 2012 and was even more prolific in 2013, raising more than $1.7 billion. International inventory comprises 18 percent of the REIT's portfolio.
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