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Griffin-American Healthcare REIT IV strikes deals to buy assets for $118M

Griffin-American Healthcare REIT IV Inc., through a wholly owned subsidiary, entered into two separate agreements to buy seniors housing facilities in Florida for an aggregate $117.5 million, plus closing costs.

The company signed the contracts Aug. 2 for four seniors housing facilities in Lakeland, Sanford, Spring Hill and Winter Haven for $70.0 million, and five seniors housing facilities in Bradenton, Brooksville, Lake Placid and Pinellas Park for $47.5 million.

The approximately 84%-occupied portfolio offers roughly 541,000 square feet of gross leasable area and includes 1,140 units.

The company will fund the acquisition of the portfolio with proceeds from its IPO and with debt financing.