Griffin-American Reports Triple-Digit Growth

NEWPORT BEACH, CA-Griffin-American Healthcare REIT II, Inc. recently disclosed its operating results for the quarter ended June 30.

“During the second quarter, Griffin-American Healthcare REIT II continued its rapid growth with the acquisition of 21 healthcare-related buildings for more than $141 million,” said Jeff Hanson, chairman and chief executive officer. “As a result of our continued expansion, funds from operations grew 232%, modified funds from operations grew 134% and net operating income grew 106% compared to the second quarter 2012. Additionally, we anticipate completing the acquisition of the previously announced £298.5 million, or approximately $447.8 million, UK Senior Housing Portfolio during the third quarter, at which point Griffin-American Healthcare REIT II would add an international presence to an already extensive national footprint, creating one of the largest and best diversified healthcare REITs in the world in terms of geography, revenue sources and asset types. ”