REIT Invests $166.5M in Health Care Facility Assets

Griffin-American Healthcare REIT II (formerly known as Grubb & Ellis Healthcare REIT II) completed its purchase of 10 skilled nursing facilities across four states from Wellington Healthcare Services LP for $ 166.5 million. The portfolio is comprised of 1,364 beds in four states across the South.

The buildings were developed between 1969 and 1999 and are master leased through 2027 by affiliates of the seller, a skilled nursing and rehabilitation…
National Commercial Real Estate News From CoStar Group