Griffin-American Healthcare REIT IV draws on revolver for acquisition

By Angela McDaniels

Tacoma, Wash., May 26 – Griffin-American Healthcare REIT IV, Inc. used borrowings under its revolving line of credit with Bank of America, NA and KeyBank, NA to fund an acquisition, according to an 8-K filing with the Securities and Exchange Commission.

The company acquired five senior housing facilities from A&M Property Holding, LLC on May 22 for $31.8 million plus closing costs.

The company also used cash proceeds from its initial public offering to fund the purchase.

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

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