American Health Investors Launched in Newport Beach, CA
NEWPORT BEACH, Calif. — Founders Jeff Hanson and Danny Prosky recently launched American Health Investors LLC, a commercial real estate investment firm headquartered in Newport Beach, Calif.
Hanson previously served in a dual-capacity with Grubb & Ellis Co. as chairman and CEO of the company’s Healthcare REIT II. Prosky previously served as executive vice president of healthcare real estate with Grubb & Ellis and as executive vice president of Grubb & Ellis’ first healthcare REIT from 2006 to 2009.
American Health Investors has established a joint venture with Griffin Capital Corp. and affiliates to advise and manage Grubb & Ellis Healthcare Trust, a publicly registered non-traded real estate investment trust that currently owns a portfolio of healthcare properties valued in excess of $430 million and seeks to raise up to $3.0 billion in equity capital. The REIT will be renamed Griffin-American Healthcare Trust Inc.
In early November, the independent members of the REIT’s board of directors elected to replace Grubb & Ellis as sponsor with American Healthcare Investors and Griffin Capital as co-sponsors, with Griffin Capital Securities as replacement dealer-manager.
“We formed American Healthcare Investors with one goal in mind,” Hanson said. “And that is to continue to execute, in partnership with Griffin Capital, our established vision for the REIT, which has firmly established itself as one of the finest performing non-traded REITs in the industry.”
Hanson continues to serve as chairman of the board and chief executive officer of the REIT, in addition to being one of its largest individual stockholders. Prosky continues to serve as president, chief operating officer, and as a director.
Hanson and Prosky have served in the same roles since the inception of the REIT in 2009 and will continue to do so.
“We are extremely proud of the exceptional economic performance of the REIT, which began acquiring assets in 2010,” Prosky said. “We will continue the disciplined management approach that has delivered these results, while further enhancing the investor-friendly structural elements that differentiate us in the industry, most notably our significant alignment of interests among REIT shareholders, the management team, and the sponsor.”
Hanson and Prosky have completed in excess of $13 billion in aggregate acquisition and disposition transactions during their careers in commercial real estate investment, $5 billion of which has been healthcare-related real estate transactions, the firm reported.
Approximately $8 billion of the $13 billion was completed as a team during the half decade that they led Grubb & Ellis’ investment management subsidiary.