Cornerstone Companies, Inc. Completes Purchase of Lakeview

Indianapolis, IN – January 27, 2016 – Cornerstone Companies, Inc. recently announced the closing on Lakeview Medical Office Plaza, located in the 9000 block of North Meridian Street in Indianapolis, Indiana. The plaza is the latest purchase by the company, which continues to rapidly expand its portfolio of owned and managed medical office buildings, both locally and nationally. The 162,000+ square foot building, which is currently close to 84% leased with approximately 35 tenants, is located in a rapidly expanding area of Indianapolis.

“Lakeview Medical Office Plaza is a first-class medical building with great visibility and access to some of Indiana’s best demographics from a healthcare payer perspective,” says Taggart Birge, CEO of the company. “The completion of the US 31 corridor work will allow the 35 physician groups currently in Lakeview Medical Office Plaza to service a broader area as drive times to Westfield will be 8 minutes or less.”

Lakeview was acquired via a joint venture between Cornerstone Companies, Inc. and Griffin-American Healthcare REIT III, Inc. Griffin-American Healthcare REIT III invests in a diversified portfolio of healthcare real estate assets, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. The REIT, co-sponsored by American Healthcare Investors and Griffin Capital Corporation, has acquired a diversified portfolio of healthcare real estate and real estate-related investments for an aggregate purchase price of approximately $2.05 billion, as of December 1, 2015.

About Cornerstone Companies, Inc.

Cornerstone Companies, Inc. was established in 1985 to operate as a healthcare real estate development, leasing, property management, consulting, and investment company. Cornerstone is a privately owned company that has been involved in the healthcare real estate business for over three decades. Cornerstone has partnered with physicians and hospitals to develop more than sixty (60) medical facilities of all types.  Cornerstone is one of the largest management and leasing companies specializing in Heath Care real estate in the Midwest, with almost 4 million rentable square feet under management and leasing. For more information visit www.CornerstoneCompaniesInc.com.

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