July 6, 2017 Comments Off on Griffin-American Healthcare Acquires NorCal Senior Housing Portfolio Views: 629 Bay Area, California News, Healthcare News, Senior Housing

Griffin-American Healthcare Acquires NorCal Senior Housing Portfolio

Griffin-American Healthcare REIT IV, Inc., an entity co-sponsored by American Healthcare Investors and Griffin Capital Co., acquired the first of two tranches of the total 327-unit, eight-facility senior housing portfolio. The properties acquired in the first tranche are located in the Northern California cities of Belmont, Fairfield, Menlo Park and Sacramento. The second tranche, comprised of senior housing facilities in Napa and Sonoma, is expected to close later this year.

The five-facility initial tranche totals roughly 134,000 square feet of assisted living, memory care and skilled nursing space. The portfolio is 100% occupied, and operated by Colonial Oaks Master Tenant, LLC under a 15-year absolute net lease.

The assets were acquired from multiple entities affiliated with Nazareth Healthcare, Inc., an unaffiliated third party represented by Grant Goodman and Chad Elliott of Lancaster Pollard & Co., LLC.

Read more at PR Newswire

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