Griffin-American Healthcare REIT IV (GAHR IV) has plans to merge with Griffin-American Healthcare REIT III (GAHR III), which will create a combined company with a gross investment value of approximately $4.2 billion in healthcare real estate assets.
Upon completion of the merger, the newly combined company, to be renamed American Healthcare REIT, will be the 11th largest healthcare-focused REIT globally, based on gross investment value as of March 31, 2021, as provided by KeyBanc Capital Markets.
In addition, GAHR III also announced it has entered into a definitive agreement to acquire the business and operations of American Healthcare Investors, the co-sponsor of both REITs, and the external advisors of GAHR III and GAHR IV. This acquisition is expected to take place immediately prior to the REIT merger.
Immediately upon the completion of the REIT merger and AHI acquisition, Jeff Hanson will be named executive chairman of American Healthcare REIT, Danny Prosky