AGG Team Advises on $1.125 Billion Joint-Venture Healthcare Real Estate Acquisition

ATLANTA–(BUSINESS WIRE)–Arnall Golden Gregory LLP advised Griffin-American Healthcare REIT III, Inc. and NorthStar Healthcare Income, Inc. in their $1.125 billion joint-venture acquisition of approximately 96 percent of Trilogy Investors LLC, the parent company of Trilogy Health Services LLC. The transaction closed on December 1, 2015. Randy Bufford, Trilogy’s founder and chief executive officer, and other members of Trilogy’s management have retained an approximately 4 percent equity interest in Trilogy. Bufford and his executive team will continue to manage the Trilogy assets on behalf of the joint venture.

“With the completion of the Trilogy acquisition, Griffin-American Healthcare REIT III has added one of the nation’s most successful and respected long-term senior care providers to its portfolio, which now totals more than $2 billion in value,” said Jeff Hanson, chairman, chief executive officer and one of the largest stockholders of Griffin-American. “The Trilogy acquisition highlights the value of the strategic partnership between the Griffin-American and NorthStar Healthcare platforms, which worked together in a synergistic fashion for the benefit of both groups of stockholders.”

Trilogy is a leading owner-operator of integrated senior healthcare campuses, operating a total of 97 properties comprised of more than 10,000 beds throughout the states of Indiana, Ohio, Michigan and Kentucky.

Arnall Golden Gregory Real Estate Practice Co-Chair Steven Kaye and Healthcare Practice Chair Hedy Rubinger led the AGG team that advised Griffin-American Healthcare REIT III and the joint venture on real estate, healthcare and other matters.

Arnall Golden Gregory’s Real Estate and Healthcare practices are two of the firm’s largest law practices, with teams that offer a full array of services needed to successfully close deals in a timely manner. The Healthcare Real Estate Team is a multi-disciplinary group that represents owners and operators of assisted living facilities, skilled nursing facilities, medical office buildings, long-term acute care hospitals, surgical hospitals and other healthcare properties. The Healthcare Mergers and Acquisitions Team advises on regulatory, corporate, tax and securities issues.

Arnall Golden Gregory has served as Griffin-American’s REIT counsel for several years, advising on matters pertaining to REIT assets acquired in various transactions.

About Arnall Golden Gregory LLP

Arnall Golden Gregory, with approximately 160 attorneys in Atlanta and Washington, DC, employs a “business sensibility” approach, developing a deep understanding of each client’s situation in order to find a customized, cost-sensitive solution. Selected for The National Law Journal’s prestigious 2013 Midsize Hot List, the firm advises on corporate, litigation and regulatory matters for numerous industries, including business services, healthcare, life sciences, logistics and transportation, real estate, franchising, information services, energy, and manufacturing. AGG is a solutions partner that subscribes to the belief “not if, but how.”

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