Griffin-American Healthcare REIT IV Acquires 53-Unit Assisted Living Facility Near St. Louis
The acquisition was completed pursuant to a joint venture with an affiliate of
Pinnacle Warrenton Assisted Living Facility totals approximately 34,000 square feet and has an occupancy rate of approximately 91 percent as of the date of acquisition. During the past five years, approximately
"Pinnacle Warrenton Assisted Living Facility is the only licensed property of its type in the area, which we believe will allow us to further increase the already strong occupancy and value of the facility," said
The acquisition of Pinnacle Warrenton Assisted Living Facility expands the joint venture relationship between Griffin-American Healthcare REIT IV and
Pinnacle Warrenton Assisted Living Facility was acquired from
Griffin-American Healthcare REIT IV purchased its first property in
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The operation of healthcare-related facilities utilizing the structure permitted by the REIT Investment Diversification and Empowerment Act of 2007 is commonly referred to as a "RIDEA" structure. |
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Comprised of prospective real estate acquisitions for which the company has executed letters of intent and/or purchase and sale agreements as of |
About
About
Griffin-American Healthcare REIT IV intends to build a balanced and diversified portfolio of healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. Griffin-American Healthcare REIT IV also seeks to provide: portfolio diversification, preservation of capital, monthly distributions and capital appreciation by increasing the value of its properties for its stockholders. Griffin-American Healthcare REIT IV qualified to be taxed as a real estate investment trust for federal income tax purposes beginning with its taxable year ended
About
This release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, including statements with respect to the potential increase in occupancy at Pinnacle Warrenton Assisted Living Facility and the impact such expansion may have on the property's value, the rental and operational cash flow of the property, the value of the relationship with
Contact: |
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(949) 427-5172 ext. 702 |
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IMPORTANT INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Rockwell Medical, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
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