REIT Pays $103M For Senior Care, Medical Office Properties

Law360, New York (August 30, 2012, 7:04 PM EDT) -- A real estate investment trust co-sponsored by American Healthcare Investors and Griffin Capital Corp. has bought a 20-property portfolio of senior care communities and medical office buildings from Regency Pacific Management LLC affiliates for about $103 million, the companies announced Wednesday.

The deal gives Griffin-American eight skilled nursing facilities, five assisted-living facilities and seven medical office buildings spread across Washington state, Oregon, Illinois, Texas, Tennessee and Georgia. Griffin-American financed the buy with cash on hand, the assumption of $14 million in debt and $66.5 million from...
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