REIT Report: Griffin-American launches new REIT

Unlisted Griffin-American Healthcare REIT III has agreed to first acquisitions

By John B. Mugford

With all of the speculation surrounding what would eventually happen to unlisted Irvine, Calif.-based Griffin-American Healthcare REIT II – would it go public or be acquired by a publicly listed company? – not much attention has been paid to the launching of a new, unlisted healthcare real estate investment trust (REIT) by the REIT’s sponsors, American Healthcare Investors and Griffin Capital Corp.

In late February the U.S. Securities and Exchange Commission (SEC) declared the sponsors’ new REIT effective after it reached the minimum offering of $2 million in subscriptions – shares sell for $10 apiece. As a result, Griffin-American Healthcare REIT III in recent weeks was ready to make acquisitions.

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