Orange County Business Journal

Griffin-American Enters United Kingdom with Buy

Vita Reed Thursday, July 11, 2013

Griffin-American Healthcare REIT II Inc., a Newport Beach-based real estate investor, said today that it is buying 44 senior housing and care facilities in England, Scotland and the Channel Island of Jersey for about $447.8 million.

Griffin-American is acquiring the properties from Colchester, Essex, England-based Myriad Healthcare Limited. Griffin-American will lease the properties back to Myriad, which operates them as Caring Homes.

The company said that its portfolio of healthcare real estate is now valued at $1.56 billion, based on the purchase price.

Griffin-American previously was a business unit of the former Grubb & Ellis Co., now Santa Ana-based Newmark Grubb Knight Frank. Griffin Capital Corp. and American Healthcare Investors LLC took over sponsorship of the REIT in late 2011.