Griffin-American REIT IV has entered an agreement to acquire the 52,996 square foot Cullman Regional POB (physician office building) III for $16.7 million, or $314 per square foot, from White Plains, N.Y.-based Seavest Healthcare Properties LLC. (Photo courtesy of Jais Stanfield Architectural Photography)
Griffin-American acquires four Alabama MOBs for a total of $47.7 million
By John B. Mugford
According to the commercial real estate data firm Real Capital Analytics (RCA) Inc., Irvine, Calif.-based Griffin-American Healthcare REIT IV Inc. (G-A REIT IV) looks to have entered two separate agreements with two different sellers to acquire four medical office buildings (MOBs) in two Alabama cities for a total of $47.7 million.
In one of the pending deals, G-A REIT IV would acquire three buildings in two separate cities with a total of about 152,000 square feet from Long Beach, Calif.-based HCP Inc. (NYSE: HCP). RCA data indicates that the pending purchase price is $31 million, or $159 per square foot (PSF).
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