Griffin-American to Acquire Eight Skilled Nursing Facilities in Missouri for $88.2M

ST. LOUIS — American Healthcare Investors and Griffin Capital Company, the co-sponsors of Griffin-American Healthcare REIT IV, have agreed to acquire a skilled nursing portfolio located throughout Missouri for $88.2 million.

The eight properties total 1,112 licensed beds and approximately 384,000 square feet. The sellers and names of the communities were not disclosed.

Griffin-American will lease the properties under a 15-year absolute net lease with two 10-year renewal options and annual rent escalators between 2 percent and 3 percent tied to the consumer price index.

"This portfolio of skilled nursing facilities adds greater diversification to the Griffin-American Healthcare REIT IV portfolio in terms of geography, asset class and revenue," says Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV. "This potential acquisition is especially attractive as the portfolio is comprised of well-performing skilled nursing facilities in desirable locations that are subject to a long-term absolute net lease."

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