November 8, 2017
American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., completed the acquisition of a nine-property Central Florida senior housing portfolio from New Senior Investment Group for roughly $110 million. The 1,140-unit portfolio totals approximately 814,000 square feet of assisted living, independent living and memory care space, and has an aggregate occupancy rate of roughly 84%.
The deal closed at a capitalization rate of 7.03%, and involves a joint venture with an affiliate of Washington, DC-based Meridian Senior Living, LLC, which will manage the portfolio. Griffin-American Healthcare REIT IV owns approximately 98% of the joint venture and acts as its managing member.
Greystone Real Estate Advisors’ Cody Tremper represented the seller.
- Bradenton Oaks in Bradenton
- The Grande and Spring Oaks in Brooksville
- Lake Morton Plaza in Lakeland
- Balmoral Assisted Living in Lake Placid
- Bayside Terrace in Pinellas Park
- Renaissance Retirement in Sanford
- Forest Oaks in Spring Hill
- Spring Haven Retirement in Winter Haven
For comments, questions or concerns, please contact Dennis Kaiser