October 5, 2016
Griffin-American Healthcare REIT IV Inc. bought the Rochester Hills Medical Building in the Detroit suburb of Rochester Hills, MI, as well as the Cullman Medical Office Building III in Cullman, AL. The Irvine, CA-based REIT paid $25 million for both properties.
Rochester Mills Medical Office Building, at 6700 N. Rochester Rd., is 93% leased to seven tenants, the largest of which is William Beaumont Hospital. The 30,000-square-foot building is within two miles of the 290-bed Crittenton Hospital Medical Center. The seller was 6700 N. Rochester LLC.
In Alabama, the 52,000-square-foot Cullman Medical Office Building III, at 1912 SH 157, is on the campus of the 145-bed Cullman Regional Medical Center. The building is 100% leased to Cullman Primary Care P.C. and Cullman Regional Medical Center Inc. The seller was Seavest Healthcare Properties LLC.
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