Griffin-American Healthcare REIT II has acquired the portfolio of Regency Pacific, a deal that includes 13
assets in Oregon and Washington, as well as seven medical
offices in Tennessee, Georgia, Texas and Illinois in separate transactions. The two deals are reported to be worth a total of $103 million.
Danny Prosky, principal of American Healthcare Investors and president and CEO of Griffin-American, said in a statement that the REIT seeks to "acquire properties that provide multiple levels of diversification to Griffin-American Healthcare,” adding that the latest acquisitions are a "good example of this—they add geographic, asset and payor mix diversification to an already substantial nationwide portfolio of healthcare-related properties.”
The Pacific Northwest portfolio features a total of 369,000 square feet total among the eight nursing homes and five assisted living facilities. Ambrose Capital Group Inc. represented Regency Pacific in the transaction.