Griffin-American Healthcare REIT Nabs Senior Housing Portfolio

American Healthcare Investors and Griffin Capital Co. LLC's REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.

By Adina Marcut

Griffin-American Healthcare REIT IV's Senior Housing

A senior housing property in Griffin-American Healthcare REIT IV’s portfolio

American Healthcare Investors and Griffin Capital Co. LLC, the co-sponsors of Griffin-American Healthcare REIT IV, have acquired SW Illinois Senior Housing Portfolio, a five-building, 229-unit portfolio located in the St. Louis area. A&M Property Holding LLC, an unaffiliated third party represented by Jeff Binder and Patrick Bryne of Senior Living Investment Brokerage, was the seller.

The portfolio features some 190,000 square feet of independent and assisted living space. The properties are located in the greater St. Louis Metropolitan Area cities of Columbia, Millstadt, Red Bud and Waterloo, Ill. The portfolio is 100 percent private pay and is operated by Compass Senior Living LLC, under a 15-year net lease with two 10-year renewal options and annual rent escalators of 5.5. percent after the first year and 2.5. percent after that.

Griffin-American Healthcare REIT IV financed the acquisition. The company purchased its first property in 2016, and has since acquired a portfolio of 21 medical offices and senior housing facilities for approximately $261 million.

Image courtesy of Griffin Capital Co.

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