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.