Griffin-American Healthcare makes $12 million draw down on revolver

By Angela McDaniels

Tacoma, Wash., Oct. 4 – Griffin-American Healthcare REIT IV, Inc. drew $12 million of borrowings under its revolving line of credit with Bank of America, NA and KeyBank, NA, according to an 8-K filing with the Securities and Exchange Commission.

The $12 million draw and a portion of the proceeds of the company’s initial public offering of common stock were used to purchase a medical office building on Friday for $16.65 million.

Griffin-American is an Irvine, Calif.-based real estate investment trust building a portfolio of health-care real estate assets.

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