A wholly owned unit of healthcare real estate investment trust Griffin-American Healthcare REIT IV Inc. agreed to purchase 24 healthcare facilities for $78.5 million, plus closing costs.

The facilities encompass roughly 625,000 square feet of gross leasable area across Illinois and Missouri, and will be fully leased at time of acquisition.

The purchase will be financed through proceeds of the company's initial public offering and debt financing, and is expected to close in the third quarter.