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Monday, 16 March 2015

Griffin Pays $135Mln for 461,000-SF Medical-Office Portfolio

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Griffin-American Healthcare REIT III Inc. has paid $135 million, or roughly $293/sf, for a portfolio of five medical-office buildings with 461,000 square feet in Massachusetts, New Jersey, New York and Kentucky.

The Irvine, Calif., REIT, whose shares do not trade on any exchange, acquired the portfolio from Kadima Medical Properties, an entity that was launched in 2004 by a group led by Kalmon Dolgin Affiliates Inc. of Brooklyn, N.Y. HealthAmerica Realty Group of Atlanta arranged the latest deal.

The portfolio is comprised of:

- Harvard Vanguard Medical...

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Additional Info

  • Syndicate to Realpoint: No
  • Sector: Office
  • Subject: Property Acquisitions (ACQ), REITS -general (REITS)
  • Valuation: More than $150 million
  • Private: Yes
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Dan Moynihan

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