Griffin-American Healthcare REIT
Griffin-American Healthcare REIT is a non-traded public real estate investment trust co-sponsored by Griffin Capital Corporation and American Healthcare Investors, two healthcare real estate investment firms with complementary expertise in capital formation, property acquisitions, and healthcare asset management. The REIT was designed to provide individual investors with access to a professionally managed, diversified portfolio of clinical healthcare real estate, including medical office buildings, skilled nursing facilities, senior housing communities, and other healthcare-related properties leased to medical tenants under long-term agreements.
The Griffin-American Healthcare REIT platform raised capital through the independent broker-dealer distribution channel, deploying those proceeds into healthcare real estate acquisitions across the United States. Griffin Capital's expertise in structuring and distributing non-traded real estate investment programs, combined with American Healthcare Investors' deep relationships with healthcare operators and sector expertise, enabled the platform to build an institutional-quality portfolio of clinical healthcare properties. The REIT's investment thesis was rooted in the long-term demographic growth in demand for healthcare services driven by the aging of the baby boom generation and the increasing prevalence of chronic disease among older Americans. An early portfolio achieved aggregate average occupancy of 97 percent with an average remaining lease term of 10 years, reflecting the defensive characteristics of healthcare real estate under long-term net lease structures.
Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV were subsequently merged together with the acquisition of the business and operations of American Healthcare Investors to form American Healthcare REIT, Inc. (NYSE: AHR), a publicly listed healthcare REIT that trades on the New York Stock Exchange. The successful transition from non-traded REIT vehicles to a publicly listed company represents the culmination of the Griffin-American Healthcare investment platform's strategy to build scaled healthcare real estate portfolios for eventual transition to the public markets, providing a liquidity event for investors in the non-traded fund vehicles.