The latest entity in the Griffin-American Healthcare portfolio of real estate investment trusts is going public. Griffin-American Healthcare REIT IV, Inc., has been approved by the Securities and Exchange Commission for an initial public offering (IPO) that could reach $3.15 billion.
In the arrangement, the company will offer up to 300,000,000 shares in common stock, as well as up to 15.7 million in additional common-stock shares for non-traded distribution reinvestment, noted a NASDAQ GlobeNewswire announcement. The proposed prices for shares is between $9.50 and $10 per share.
The Griffin-American Healthcare REIT family includes three other REITs. In 2015, Griffin-American Healthcare REIT III held an IPO for $1.9 billion and acquired Trilogy Health Services.