Independence Medical Office Building Portfolio
Category: Medical Office Buildings
Independence Medical Office Building Portfolio comprised of five buildings totaling approximately 461,000 square feet in New York, New York; Verona and Morristown, New Jersey; Somerville, Massachusetts; and Southgate, Kentucky for an aggregate purchase price of approximately $135 million.
The acquisition of Independence Medical Office Building Portfolio significantly expands Griffin-American Healthcare REIT III in core urban areas located near major academic and healthcare institutions. The portfolio is strongly aligned with major healthcare providers and is more than 96 percent occupied.