2018
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July 09, 2018
Griffin-American Healthcare REIT IV Acquires Medical Office Building in Grand Junction, Colorado
“Grand Junction Medical Office Building is a premier medical office building in the Grand Valley region of western Colorado and is an important component of the medical delivery network for the 150,000 people living in and around Grand Junction,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV. “Additionally, by the year 2035, as part of the Grand Junction Comprehensive Plan, the city anticipates doubling its population through strategic commercial real estate developments and transportation improvements, which we believe may drive even greater long-term value for the building, our portfolio and our investors.”
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July 09, 2018
Griffin-Bain Capital Credit Interval Fund Closes First Direct Origination Investment
“We are proud of our performance thus far, outperforming the leveraged loan index as well as traditional bonds,” said Jeff Hawkins, COO of Bain Capital Credit. “Alternative credit has historically performed well within a variety of market conditions and we believe the Fund is well positioned in today’s dynamic market environment.”
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July 10, 2018
Griffin Capital Essential Asset REIT II Reports Increase in NAV
The steady growth in the NAV was largely attributable to the robust fundamentals inherent in the REIT’s underlying real estate portfolio including a weighted average remaining lease duration of approximately 10 years, fortified by cash flow that is over 82% attributable to tenants with an investment grade credit rating and contractual annual rental rate increases of over 2%.
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July 11, 2018
Griffin Capital Essential Asset REIT II Expands Credit Facility to $750 Million
“We are pleased to complete this refinancing as it extends the maturity, lowers financing costs and provides us with ongoing flexibility and access to more than $200 million of undrawn borrowing capacity as of the closing date, soundly positioning us for continued growth,” explained Javier Bitar, chief financial officer of the REIT. “We appreciate the support of the premier financial institutions that have elected to partner with us in this credit facility and the confidence they have expressed in our business model and the strength of our financial position.”
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July 30, 2018
Griffin Capital Company Partners with Habitat for Humanity to Build Homes for Low-Income Families in Culver City
David Rupert, President of Griffin Capital, said, “As a growing firm that has enjoyed more than two decades of success investing capital on behalf of individual investors, we view volunteer service as an honor and a responsibility. Our entire organization has always strived to support the well-being of the local communities where our more than 170 employees live and work. Building affordable housing has been a priority of our firm for years, and for individual employees, myself included, our involvement with Habitat goes back decades. We are big believers that affordable housing, having a place to call home, is a crucial starting point for achieving financial stability.”
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July 31, 2018
Griffin-American Healthcare REIT IV Acquires Medical Office Building Near Seattle
“Edmonds Medical Office Building is strategically located within a thriving medical corridor in Greater Seattle and is fully leased to multiple tenants, including some of the largest health systems in the region," said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV. “Additionally, the building is in close proximity to one of the area’s busiest hospitals and enjoys a healthy average remaining lease term of approximately eight years. Considering all of these factors, we believe Edmonds Medical Office Building is an exceptional addition to the Griffin-American Healthcare REIT IV portfolio.”
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August 06, 2018
Griffin Capital Essential Asset REIT II Reports Increase in NAV
The steady growth in the NAV was largely attributable to the robust fundamentals inherent in the REIT’s underlying real estate portfolio including a weighted average remaining lease duration of approximately 10 years, fortified by cash flow that is over 75 percent attributable to tenants with an investment grade credit rating2 and contractual annual rental rate increases of over 2 percent.
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August 06, 2018
Griffin-American Healthcare REIT IV Acquires 53-Unit Assisted Living Facility Near St. Louis
The acquisition was completed pursuant to a joint venture with an affiliate of Meridian Senior Living, LLC, which will manage the portfolio on a day-to-day basis. Griffin-American Healthcare REIT IV owns approximately 98 percent of the joint venture and acts as its managing member. The facility was acquired under a RIDEA structure, which allows for the joint venture partners to participate in both the rental and operational cash flow of the property.
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August 13, 2018
Griffin Capital Essential Asset REIT Closes $125 Million Perpetual Preferred Private Offering Shares Purchased by Korean Trust
“After several months of relationship building, we could not be more pleased to have completed the first leg of this equity transaction,” said Kevin A. Shields, Chairman and Chief Executive Officer of the REIT. “It was a pleasure to work closely with Hana Financial and the teams at both NH and Shinhan and we hope this is the first in a series of transactions we can accomplish together.”
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August 14, 2018
Griffin-American Healthcare REIT IV Reports Second Quarter 2018 Results
“Griffin-American Healthcare REIT IV built on its exceptional first quarter results with an excellent second quarter of 2018, during which we recorded strong performance throughout our portfolio, which continues to grow at a rapid rate,” said Jeff Hanson, chairman and chief executive officer. “Including acquisitions completed subsequent to the close of the quarter, our portfolio has expanded to 50 healthcare properties acquired for an aggregate contract purchase price of $626.3 million, and we have more than $400 million of additional pending acquisitions that we intend to complete in the coming months.”
