GRIFFIN-AMERICAN ACQUIRES HOUSTON HOSPITAL

HOUSTON — Griffin-American Healthcare REIT II, co-sponsored by American Healthcare Investors and Griffin Capital Corp., has acquired the 161,000-square-foot Bellaire Medical Center, a long-term acute care center and behavioral rehabilitation hospital located in Houston's Bellaire neighborhood. The hospital takes up an entire city block and is located four miles west of the 45 million-square-foot Texas Medical Center, the world's largest medical campus. Bellaire Medical Center has undergone $6 million worth of capital improvements since 2008, and $6.8 million is slated to be invested to further expand the facility. The medical center is fully leased to Cornerstone Healthcare Group and Ascent Health Corp. Griffin-American acquired the medical center directly from 5314 Dashwood, a subsidiary of PinPoint Commercial. Griffin-American financed the acquisition using $23.5 million from its unsecured line of credit from Bank of America and the remaining with cash on hand.