American Healthcare REIT And Griffin-American Healthcare REIT III Merge, Acquisition Creates Eleventh Largest Healthcare REIT Globally
American Healthcare REIT, formerly known as Griffin-American Healthcare REIT IV, has completed its merger with Griffin-American Healthcare REIT III in a tax-free, stock-for-stock transaction, the company just announced.
The combined company has a gross investment value of approximately $4.2 billion in healthcare real estate assets. In conjunction with the merger, the previously announced acquisition of American Healthcare Investors, the co-sponsor of both REITs, was completed as well. American Healthcare REIT is now the 11th largest healthcare real estate investment trust globally, according to GlobeSt.com.
“We are pleased to have completed this merger and are excited about the future prospects of American Healthcare REIT,” Danny Prosky, CEO and president, said in a press release. “As a large, diverse, and self-managed healthcare REIT, we believe we are strategically positioned to pursue a future listing or IPO on a national stock exchange that would provide liquidity to our existing stockholders and unlock greater growth and value enhancement opportunities as a publicly traded company.”
Among the newly formed REIT’s holdings are 2,100 senior housing and skilled nursing beds among its 312 properties across 36 states and the United Kingdom. The REIT Is active in 36 states and the United Kingdom. The portfolio also includes medical office buildings.