NEWPORT BEACH,CA-Griffin-American Healthcare REIT II has taken on10 skilled nursing facilities and one medical office building for a total of $174.3 million, according to a recent company release. The REIT II financed the acquisition through the assumption of nine separate US Housing and Urban Development loans totaling $70.5 million, the assumption of a $12.7 million loan with Capital Funding Group, $38.4 million in borrowings under its line of credit with Bank of America, N.A., $20 million in borrowings under its line of credit with KeyBank, in addition to net cash proceeds received from its offering.

The properties are located in Texas, Georgia, Tennessee, Louisiana and Alabama and were acquired from affiliates of Wellington Healthcare Services LP. These new facilities add 1,364-beds to Griffin’s total portfolio. The new nursing and medical office spaces cover a total of 454,000 square feet, the same release stated, and range from 20,000 square feet to 77,000 square feet.

In describing the details of the buildings, Danny Prosky, Griffin REIT’s president and chief operating officer, was quoted as saying, “We focus on institutional-grade healthcare facilities that are accretive to our bottom line, that support our investor distribution, and that are likely to add the highest value to our nationwide portfolio. These acquisitions meet each of those requirements.”