Griffin-American Healthcare REIT III Reports Second Quarter 2017 Results
IRVINE, Calif. (August 16, 2017) – Griffin-American Healthcare REIT III, Inc. today announced operating results for the company’s second quarter ended June 30, 2017.
“During the second quarter of 2017, Griffin-American Healthcare REIT III experienced impressive operational growth across a number of important financial performance metrics compared to the second quarter of 2016,” said Jeff Hanson, chairman and chief executive officer. “Funds from operations grew by 79 percent, while both modified funds from operations and net operating income expanded by approximately 15 percent. Needless to say, we are very pleased with our performance and hope to continue to generate additional value on behalf of our fellow stockholders.”
Chief financial officer Brian Peay added, “Since acquiring our first property in June 2014, our international portfolio has matured to include 207 healthcare buildings and integrated senior health campuses, as well as nine real estate-related investments, valued at approximately $2.9 billion.1 In addition to this significant expansion, we continue to experience high occupancy, impressive weighted average remaining lease term and relatively low portfolio leverage.”
This release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, with respect to the performance and projected growth in value of our current portfolio, our occupancy and weighted average lease term and our portfolio leverage. We intend for all forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable by law. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: our strength and financial condition; uncertainties relating to the strength and financial condition of our current and future real estate investments and their tenants; uncertainties relating to the medical needs and local economies where our real estate investments are located; uncertainties relating to changes in general economic and real estate conditions; uncertainties regarding changes in the healthcare industry; uncertainties relating to the implementation of recent healthcare legislation; uncertainties relating to the implementation of our real estate investment strategy; and other risk factors as outlined in our company’s periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and undue reliance should not be placed on such statements. We undertake no obligation to update any such statements that may become untrue because of subsequent events.