Totaling approximately 474,000 square feet, the medical office buildings are located in New Port Richey, FL; Rockwall, San Angelo, Schertz and Texarkana, TX; Champaign and Lemont, IL; Greeley, CO; Columbia, SC; Las Vegas, New Mexico; Hilo, HI; Warsaw, Indiana; and Huntsville, AL.

The acquisitions were financed through the assumption of approximately $3.7 million of existing debt, $64 million in borrowings under Griffin-American Healthcare REIT II’s unsecured line of credit with Bank of America N.A., $4 million on the prior secured line of credit with Bank of America N.A., and the remaining using cash on hand. As of March 31, 2012, the Griffin-American Healthcare REIT II property portfolio was 96.7% leased with a weighted average remaining lease term of approximately 10 years and leverage of 33.3%.

The acquisitions for this particular grouping include:

*Premier Medical Center—an approximately 21,000-square-foot, single-story, multi-tenant medical office building located approximately one mile from the 236-bed Medical Center of Trinity in the Tampa suburb of New Port Richey, FL. Anchored by a urology and cardiology practice, the building is currently 92% leased.

*Rockwall Medical Center—a two-story, multi-tenant medical office building consisting of approximately 85,000 square feet in the Dallas suburb of Rockwall, TX. Located adjacent to the 50-bed Texas Health Presbyterian hospital, the facility was built in 2006 and is currently 91% leased to multiple tenants, including Tenet Healthcare Corporation’s Lake Pointe Medical Center.

*San Angelo Community Medical Center I & II are adjacent single-story medical office buildings located on the campus of San Angelo Community Medical Center, a 171-bed community hospital owned by Community Health Systems. Built in 2004 and 2005, the buildings total an aggregate of approximately 43,000 square feet and are currently 100% leased by the medical center.

*Schertz Medical Building is an approximately 20,000-square-foot, single-story, multi-tenant MOB in the San Antonio suburb of Schertz, TX. Built in 2005, the property is currently 100% leased to Alamo City Medical Group and Schertz Kidney Center.

*Alta Vista Medical Office Building is an approximately 14,000-square-foot facility located on the campus of the 54-bed Alta Vista Regional Hospital in Las Vegas, New Mexico. The hospital, which currently leases the entire building through June 2020, provides orthopedic, obstetric and gynecological services at the building.

*The Hilo medical office building is an approximately 23,000-square-foot, two-story, single-tenant medical office building in Hilo, HI. Built in 1996, the property is currently 100% leased to the 264-bed Hilo Medical Center and serves as its primary outpatient facility.

*Beyer Medical Building is an approximately 19,000-square-foot medical office building built in 2006 on the campus of Community Health System’s 72-bed Kosciusko Community Hospital. The property is currently fully leased to the hospital through January 2018 and is home to its imaging center and internal medicine department.

*Physician’s Plaza at Crestwood is a two-story, multi-tenant medical office building located on the campus of Community Health System’s Crestwood Medical Center, a 150-bed acute care hospital in Huntsville, AL. The approximately 47,000-square-foot building was built in 2005 and is currently 100% leased, largely to Crestwood Medical Center, which houses its sleep center, orthopedic clinic and women’s clinic in the facility.

The New Port Richey, Rockwall, San Angelo, Schertz, Las Vegas, Hilo, Warsaw and Huntsville properties were acquired from affiliates of Montecito Medical Investment Co., an unaffiliated third party represented by Chris Bodnar and Lee Asher, co-leaders of CBRE Inc.’s healthcare investment practice.

“This transaction represents the largest multi-state medical office portfolio sale year-to-date,” says Bodnar, first vice president at CBRE. “We were very pleased with the amount of interest we received and it demonstrates the increasing focus by investors on the medical office market.”

*The Texarkana medical office building is a two-story, multi-tenant facility comprised of approximately 32,000 square feet located in close proximity to Christus St. Michael Hospital, a 312-bed medical center that has been serving the healthcare needs of the Texarkana region for nearly 100 years. Constructed in 2005 on a two-acre parcel, the building is currently 100% leased to Collom and Carney Clinic and Ambulatory Surgery Centers of America. The facility was acquired directly from the Cirrus Group, an unaffiliated third party.

*Champaign facility is a single-story medical office building constructed in 2002. The approximately 30,000-square-foot building is currently fully leased by Carle Foundation Hospital, a 295-bed regional hospital located in nearby Urbana.

*The Lemont, IL medical office building is a two-story facility constructed in 2001. The nearly 39,000-square-foot building is currently 60% leased and affiliated with Advocate Good Samaritan Hospital, the largest of its six tenants and part of Advocate Health Care, the largest fully integrated not-for-profit healthcare delivery system in the Chicago metropolitan region.

The Champaign and Lemont buildings were acquired from HSA Primecare, an unaffiliated third party represented by Jeffrey Cooper, Philip Mahler and David Ruggiero of Savills LLC.

*The Greeley building is an approximately 58,000-square-foot, single-story, multi-tenant medical office building constructed in 1998 with an addition completed in 2003 and 2004. The building is located within five miles of Banner Health’s North Colorado Medical Center, which currently leases the entire medical office building. The 378-bed medical center opened in 1904 and serves a large region that includes southern Wyoming, western Nebraska, western Kansas and northeastern Colorado. The building was acquired from an unaffiliated third party represented by Garth Hogan and Todd Perman of Newmark Grubb Knight Frank.

*Northeast Medical Office Building is a two-story, multi-tenant facility consisting of approximately 43,000 square feet in Columbia, SC. The building is located within approximately seven miles of Palmetto Health Richland Hospital, Children’s and Heart Hospital, Palmetto Health Baptist hospital, and Providence Hospital Northeast. Completed in 1988, the facility is currently 87% leased to fourteen tenants, the largest of which is Palmetto Health, the region’s largest not-for-profit health system. The building was acquired from NE Medical Center LLC, an unaffiliated third party represented by Bodnar and Asher of CBRE.

American Healthcare Investors tells GlobeSt.com that it cannot disclose further information on the offerings at this time.

In June, as GlobeSt.com reported, the Griffin-American Healthcare REIT II gained a $200-credit line that was intended to help the firm pursue further property acquisitions. Prosky told GlobeSt.com at the time that healthcare will likely not be fazed by Euro debt or election year concerns. “Despite the choppy job market, healthcare jobs continued to grow, and rents and occupancies continue to hold up,” he said. “I don’t see any reason why that would change. I see demand for healthcare services continuing to increase. Domestic demand drives the healthcare market, whether or not you get sick doesn’t depend a whole lot on the European debt market.”

GlobeSt.com recently reported on the healthcare REIT’s earnings. According to the company’s fourth-quarter and year-end 2011 results, the REIT showed exponential growth from healthcare-related assets. The REIT’s portfolio of healthcare real estate more than doubled compared to 2010, resulting in important financial metrics such as modified funds from operations and net operating income experiencing 500% and 400% growth, respectively, as compared to 2010, according to Prosky. Prosky previously told GlobeSt.com that the report bodes well for the healthcare sector. “I think that we happen to be a great sector, and we’re fortunate in that sense. Healthcare rents and occupancies have held up very well, we have not seen a rash of delinquencies like in other sectors, and it’s been a very stable part of the economy. The country lost a lot of jobs in 2008 and 2009, but we gained new healthcare jobs. There’s a built-in in margin of error in healthcare,” he said.