Everest REIT Investors I LLC and Everest REIT Investors II LLC launched a tender offer to buy up to 1.0 million shares of common stock in Griffin-American Healthcare REIT III Inc. for $6.50 apiece.

If all shares sought in the offer are tendered, the purchase consideration would amount to roughly $6.5 million in aggregate. The purchasers and their affiliates beneficially own around 19,701 shares of the healthcare-focused diversified REIT.

The shares sought in the offer along with those already owned equate to around 0.5% of the outstanding share capital of the company.

The offer will expire at 9 p.m. PT on March 30, unless extended.