Griffin-American is acquiring five properties from Kalmon Dolgin Affiliates, including this 100,219 s.f. facility in Somerville, Mass.
(Photo courtesy of Avison Young)
NorthStar Realty’s deal with Griffin-American REIT II entails more than just its portfolio.
In an interesting twist on NorthStar Realty Finance Corp.’s acquisition of Griffin-American Healthcare REIT II for an estimated $4 billion, NorthStar is also acquiring a 47 percent interest in one of the REIT’s sponsors, Irvine, Calif.-based American Healthcare Investors Inc.
Damon Elder, senior VP and head of marketing and communications for Irvine, Calif.-based American Healthcare Investors (AHI), confirmed the deal, noting that one of the keys is that AHI is maintaining asset management duties of the Griffin-American Healthcare REIT II portfolio. That portfolio has more than 11 million square feet of space. About 46 percent of the portfolio, which has a purchase price value of nearly $3 billion, is composed of medical office buildings (MOBs).
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