Griffin-American Healthcare REIT IV Acquires Assisted Living Facility in Beaumont, Texas for $19.5 Million
Situated on 4.38 acres of land, Pinnacle Beaumont Assisted Living Facility is comprised of 79 units and consists of approximately 61,000 square feet of assisted living and memory care space. The acquisition was completed pursuant to a joint venture with an affiliate of
"The acquisition of Pinnacle Beaumont Assisted Living Facility further diversifies our growing portfolio in terms of asset class as well as geographically," said
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 growth and diversity of Griffin-American Healthcare REIT IV's portfolio's, the value of
Contact:
(949) 427-5172 ext. 702
[email protected]
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