Griffin-American draws $30.4 million under revolving credit line

By Marisa Wong

Morgantown, W.Va., Oct. 18 – Griffin-American Healthcare REIT IV, Inc. borrowed $30.4 million 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 $30.4 million draw and the remaining cash proceeds of the company’s initial public offering of common stock were used to purchase some parcels of land and three medical office buildings for $31 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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