IRVINE, CA—American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT III, Inc., say that the REIT completed the acquisition of 18 healthcare properties in 11 states in the first quarter of the year.

Along with a collateralized debt instrument, the Q1 activity has an aggregate purchase price of $353.7 million. The acquisitions were comprised of 14 medical office buildings, three senior housing facilities, a surgical hospital and the aforementioned collateralized debt instrument.

“Griffin-American Healthcare REIT III remained very active on the acquisition front during the first quarter of the year, adding a diverse collection of healthcare properties to our rapidly growing portfolio,” said Danny Prosky, president, chief operating officer and one of the largest stockholders of the REIT. “In just six months' time, we have grown from approximately $41 million worth of assets to more than $631 million1 with a robust pipeline of acquisitions on the horizon.”