October 10, 2017 Comments (0) Views: 419 New York News, Tri-State Area New York

Griffin-American Buys $357M in Medical Office and Seniors Housing

Griffin-American Healthcare REIT IV has purchased another two medical office buildings: Trumbull Medical Arts at 15 Corporate Dr. in Trumbull, CT, and Stratford Medical Arts at 2876-2890 Main St. (pictured) in Stratford, CT.

It’s the latest purchase by Griffin-American Healthcare REIT IV, which has bought 30 medical office buildings and senior housing facilities since June 2016, paying a total of $357 million.

The two buildings total 80,000 square feet of medical office space, which is 94.6% leased to 15 tenants. “The portfolio enjoys a high occupancy level and strong roots to the local healthcare delivery systems, making it a very attractive addition to Griffin-American Healthcare REIT IV,” said Stefan Oh, executive vice president of acquisitions for Griffin-American Healthcare REIT IV, co-sponsored by American Healthcare Investors and Griffin Capital Company.

Lisa Menin of Jacobson Properties and John LaBella of RE/MAX Right Choice represented the sellers, Trumbull Medical Arts and Stratford Medical Arts. Griffin-American Healthcare REIT IV financed the acquisition, using cash on hand and its revolving line of credit with Bank of America and KeyBank.

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