Glen Burnie Medical Office Building - Glen Burnie, MD

Glen Burnie Medical Office Building is a six-story, approximately
76,000-square-foot medical office building located on the campus of
Baltimore Washington Medical Center, a 310-bed acute care hospital campus
affiliated with the University of Maryland Medical System. The building was
92 percent leased at the time of acquisition to multiple tenants, including
Chase Brexton Health Care, Chesapeake Orthopedic & Sports Medicine Center
and Baltimore Washington Eye Center. The weighted average remaining lease
term for Glen Burnie Medical Office Building is approximately seven years.
Glen Burnie Medical Office Building was acquired from Arundel Venture LLP,
an unaffiliated third party represented by Garry Applestein of Colliers
International.

Marietta Medical Office Building - Marietta, GA

Marietta Medical Office Building is a two-story, multi-tenant medical office
building located adjacent to the campus of the 633-bed Wellstar Kennestone
Hospital, a member of WellStar Health System. The approximately
41,000-square-foot building was 100 percent leased at the time of
acquisition to Pinnacle Orthopaedics & Sports Medicine Specialists and
WellStar Urology through May 2027 and November 2019, respectively, resulting
in a weighted average remaining lease term of approximately 10.4 years.
Marietta Medical Office Building was acquired from Tower Partners LLC, an
unaffiliated third party represented by Lee Asher and Chris Bodnar of CBRE.

Mountain Crest Senior Living Portfolio - Elkhart, Hobart & LaPorte, IN;
and Niles, MI
Mountain Crest Senior Living Portfolio is comprised of six senior living
communities in northern Indiana and southwestern Michigan totaling 653
rental units and approximately 417,000 square feet.
Griffin-American Healthcare REIT III completed the acquisition of five of
the facilities during the second quarter. The portfolio of six senior living
communities is managed on behalf of the REIT by Ridgeline Management Company
and is 100 percent private pay. At the time of acquisition, the average
occupancy for five of the six senior living communities was approximately 85
percent.
Mountain Crest Senior Living Portfolio was acquired from LaPorte Retirement
LLC, Hobart Retirement LLC, Niles Retirement LLC, Elkhart Retirement LLC, CW
LLC and Eastlake LLC, all unaffiliated third parties represented by Nick
Glaisner of Ziegler, under a RIDEA structure, which allows for
Griffin-American Healthcare REIT III to participate in both the rental and
operational cash flow of each facility while relying on Ridgeline Management
Company as the third-party manager.

Mount Dora Medical Center - Mount Dora, FL

Mount Dora Medical Center is a two-story, approximately 51,000-square-foot
medical office building located in the Orlando suburb of Mount Dora,
Florida, eight miles east of the 269-bed Florida Hospital Waterman. The
multi-tenant building was built in 2008 and underwent an extensive expansion
and renovation in 2014. The building was 97 percent leased to 19 tenants at
the time of acquisition, with a weighted average remaining lease term of
approximately six years.
Mount Dora Medical Center was acquired from Hobart Investments LLC, an
unaffiliated third party represented by Gail Bowden of Sperry Van Ness and
Chris Stai of Brown Gibbons Lang & Company.

Nebraska Senior Housing Portfolio - Bennington & Omaha, NE

Nebraska Senior Housing Portfolio is comprised of two senior living
communities totaling 220 rental units and 282,000 square feet in Bennington
and Omaha, Nebraska. Built in 2000 and 2009, the portfolio was 100 percent
occupied at the time of acquisition and will be operated on behalf of the
REIT by Dial Senior Management Inc., an affiliate of the seller, thus
providing continuity of management.
Nebraska Senior Housing Portfolio was acquired from Dial Retirement
Communities, an unaffiliated third party represented by Mark Myers of Marcus
& Millichap, under a RIDEA structure, which allows for Griffin-American
Healthcare REIT III to participate in both the rental and operational cash
flow of each facility while relying on Dial Senior Management as the
third-party manager.

North Carolina Assisted Living Portfolio (Second Tranche) - Wake Forest and
Clemmons, NC

Griffin-American Healthcare REIT III closed on the second tranche of the
North Carolina Assisted Living Portfolio during the second quarter.
The second tranche is comprised of two senior housing facilities in Wake
Forest and Clemmons, North Carolina totaling 122 rental units and
approximately 81,000 square feet, both with 100 percent tenant occupancy at
the time of acquisition. Built in 2014, both buildings are operated by
Carillon Assisted Living LLC under a 15-year absolute net lease with two
10-year renewal options. Carrillon provides assisted living and Alzheimer's
care service in North Carolina through 19 licensed facilities comprised of
1,888 beds and 1,162 rental units. The REIT anticipates closing on the third
and final tranche of the five building portfolio during the first quarter of
2016.
North Carolina Assisted Living Portfolio was acquired from Carillon, an
unaffiliated third party represented by Jason Ficken and Greg Throckmorton
of Quadriga Partners.

Pennsylvania Senior Housing Portfolio - Bethlehem, Boyertown and York,
PA

The three-building Pennsylvania Senior Housing Portfolio is comprised of 345
rental units and approximately 260,000 square feet in the eastern
Pennsylvania cities of Bethlehem, Boyertown and York. Built between 1986 and
2008, each of the communities has been well maintained with consistent
capital expenditures to maintain their attractiveness and occupancy, which,
at the time of acquisition, was approximately 98 percent. The portfolio is
operated on behalf of the REIT by Heritage Senior Living, an affiliate of
the sellers, which owns and operates 12 other senior housing communities
located primarily in Pennsylvania.
Pennsylvania Senior Housing Portfolio was acquired from Abeking Associates
LP, One Boyertown Properties LP, Two Boyertown Properties LP and Westrum
Hanover LP, all unaffiliated third parties affiliated with Heritage Senior
Living represented by Joshua Jandris of Marcus & Milichap. Griffin-American
Healthcare REIT III completed the transaction under a RIDEA structure, which
allows for the REIT to participate in both the rental and operational cash
flow of each facility while relying on Heritage Senior Living as the
third-party manager.
Griffin-American Healthcare REIT III completed the acquisitions using
cash-on-hand, as well as the assumption of existing loans totaling
approximately $26.1 million associated with Paoli Medical Plaza and
Pennsylvania Senior Housing Portfolio. Including these acquisitions, the
Griffin-American Healthcare REIT III portfolio is comprised of 60 medical
office buildings, hospitals and senior housing facilities, as well as one
collateralized debt instrument. The portfolio was valued in excess of $942.7
million, based on aggregate purchase price, as of June 30, 2015.

American Healthcare Investors is an investment management firm that
specializes in the acquisition and management of healthcare-related real
estate, including medical office buildings, senior housing, skilled nursing
and hospitals. The managing directors of American Healthcare Investors are
nationally recognized real estate investment executives Jeff Hanson, Danny
Prosky and Mathieu Streiff, who have completed in excess of $22 billion in
aggregate acquisition and disposition transactions during their careers,
approximately $12 billion of which has been healthcare-related real estate
transactions.
Griffin-American Healthcare REIT III, Inc. intends to qualify as a real
estate investment trust for federal income tax purposes.
Griffin-American Healthcare REIT III intends to build a balanced and
diversified portfolio of healthcare real estate assets, focusing primarily
on medical office buildings, senior housing facilities, skilled nursing
facilities and hospitals. Griffin Capital is a privately-owned real estate

company headquartered in Los Angeles.