IRVINE, Calif., Jan. 12, 2018 /PRNewswire/ — American Healthcare Investors, LLC, one of the world’s most active investors and largest managers of healthcare real estate, announced today that its three founding principals, Jeff Hanson, Danny Prosky and Mathieu Streiff, along with the company’s executive vice presidents, have entered into irrevocable stock purchase plans applicable to Griffin-American Healthcare REIT IV, Inc., a publicly registered, non-traded real estate investment trust co-sponsored by the firm and Griffin Capital Company, LLC.
The recently executed plans are materially identical to plans entered into by the executives in February 2016 and December 2016 in regards to Griffin-American Healthcare REIT IV, as well as other executive stock purchase plans that were executed annually from 2008 to 2013 in relation to the securities offering by Griffin-American Healthcare REIT II, Inc. (originally known as Grubb & Ellis Healthcare REIT II, Inc.) and from 2014 to 2015 in relation to the securities offering by Griffin-American Healthcare REIT III, Inc.
In total, since 2008, executives and employees of American Healthcare Investors and Griffin Capital Company who have participated in stock purchase plans or made additional investments independently of the plans have invested more than $30 million in the three REITs.
“We share a fundamental belief that executives responsible for the management of an investment on behalf of stockholders should make considerable personal monetary investments that align their interests with those of the stockholders,” said Hanson. “Over the course of our history, our executive team has proudly invested significant percentages of our individual net worth into the REITs we sponsor, an industry leading practice that should be the norm, rather than the exception.”
Under the terms of the plans, Hanson, Prosky and Streiff have agreed to invest 100 percent of the net after-tax cash compensation (base salary and annual bonus) they receive as executives of American Healthcare Investors directly into shares of Class I common stock of Griffin-American Healthcare REIT IV. Hanson serves as chairman of the board and chief executive officer of Griffin-American Healthcare REIT IV, Prosky serves as the REIT’s president and chief operating officer and Streiff serves as its executive vice president and general counsel.
Additionally, the four executive vice presidents of American Healthcare Investors have also entered into similar stock purchase plans in which they will invest a portion of their net after-tax cash compensation (base salary or base salary and annual bonus), ranging