Griffin-American Healthcare Acquires Trio of Medical Office Buildings

PALM BEACH, FL—The demand for medical office buildings in the Southeast remains strong. Griffin-American Healthcare REIT II—formerly known as Grubb & Ellis Healthcare REIT II—just snapped up a trio of medical office buildings across three Southeastern states for $25.1 million.

The three medical office buildings total about 117,000 square feet collectively and all post high occupancy. Each medical office building is located on a hospital campus or is affiliated with a nearby medical center that serves as its major tenant. With the new additions—which span Boynton Beach, FL, Austell, GA and Okatie, SC—the healthcare REIT beefs up the size of its medical office building portfolio to a healthy 69 buildings valued at about $630 million.