American Healthcare REIT, Inc 10-Q for FY2020 Q3

American Healthcare REIT, Inc. (AHR)

10-Q 2020-11-13 For: 2020-09-30

Added on April 10, 2026

About this 10-Q

American Healthcare REIT, Inc filed this 10-Q on November 13, 2020, covering the quarter ended September 30, 2020 (FY2020 Q3).

Headline figures

Quarter ended September 30, 2020, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $18.95M; up 59.7% from $11.87M a year earlier
Net loss: $4.92M; compared with a net loss of $1.9M a year earlier

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Maryland						47-2887436
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

18191 Von Karman Avenue, Suite 300 Irvine, California						92612
(Address of principal executive offices)						(Zip Code)


			Page
PART I — FINANCIAL INFORMATION

Item 1. Financial Statements (Unaudited)			3
Condensed Consolidated Balance Sheets as of September 30, 2020 and December 31, 2019			3
Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2020 and 2019			5
Condensed Consolidated Statements of Equity for the Three and Nine Months Ended September 30, 2020 and 2019			6
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2020 and 2019			8
Notes to Condensed Consolidated Financial Statements			10
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			42
Item 3. Quantitative and Qualitative Disclosures About Market Risk			59
Item 4. Controls and Procedures			60

PART II — OTHER INFORMATION

Item 1. Legal Proceedings			61
Item 1A. Risk Factors			61
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			67
Item 3. Defaults Upon Senior Securities			67
Item 4. Mine Safety Disclosures			67
Item 5. Other Information			68
Item 6. Exhibits			68
Signatures			69


	September 30, 2020		December 31, 2019
ASSETS
Real estate investments, net	$	928,066,000	$	895,060,000
Cash and cash equivalents	22,690,000		15,290,000
Accounts and other receivables, net	3,262,000		4,608,000
Restricted cash	706,000		556,000
Real estate deposits	—		1,915,000
Identified intangible assets, net	68,636,000		74,023,000
Operating lease right-of-use assets, net	14,163,000		14,255,000
Other assets, net	73,967,000		62,620,000
Total assets	$	1,111,490,000	$	1,068,327,000

LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Liabilities:
Mortgage loans payable, net(1)	$	17,974,000	$	26,070,000
Line of credit and term loans(1)	479,500,000		396,800,000
Accounts payable and accrued liabilities(1)	27,436,000		32,033,000
Accounts payable due to affiliates(1)	987,000		1,016,000
Identified intangible liabilities, net	1,362,000		1,601,000
Operating lease liabilities(1)	9,975,000		9,858,000
Security deposits, prepaid rent and other liabilities(1)	12,343,000		9,408,000
Total liabilities	549,577,000		476,786,000

Commitments and contingencies (Note 10)

Redeemable noncontrolling interests (Note 11)	2,697,000		1,462,000

Equity:
Stockholders’ equity:
Preferred stock, $0.01 par value per share; 200,000,000 shares authorized; none issued and outstanding	—		—
Class T common stock, $0.01 par value per share; 900,000,000 shares authorized; 75,357,680 and 74,244,823 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	753,000		742,000
Class I common stock, $0.01 par value per share; 100,000,000 shares authorized; 5,630,314 and 5,655,051 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	56,000		56,000
Additional paid-in capital	729,923,000		719,894,000
Accumulated deficit	(172,436,000)		(130,613,000)
Total stockholders’ equity	558,296,000		590,079,000
Noncontrolling interest (Note 12)	920,000		—
Total equity	559,216,000		590,079,000
Total liabilities, redeemable noncontrolling interests and equity	$	1,111,490,000	$	1,068,327,000


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Revenues and grant income:
Real estate revenue	$	21,519,000	$	19,253,000	$	64,824,000	$	53,280,000
Resident fees and services	18,948,000		11,865,000		51,863,000		34,053,000
Grant income	864,000		—		864,000		—
Total revenues and grant income	41,331,000		31,118,000		117,551,000		87,333,000
Expenses:
Rental expenses	5,905,000		4,929,000		17,723,000		14,238,000
Property operating expenses	17,397,000		9,884,000		44,856,000		28,194,000
General and administrative	3,672,000		3,982,000		11,960,000		11,413,000
Acquisition related expenses	57,000		74,000		74,000		1,492,000
Depreciation and amortization	12,669,000		9,552,000		37,919,000		35,561,000
Total expenses	39,700,000		28,421,000		112,532,000		90,898,000
Other income (expense):
Interest expense:
Interest expense (including amortization of deferred financing costs and debt discount/premium)	(4,839,000)		(4,140,000)		(15,123,000)		(11,532,000)
Gain (loss) in fair value of derivative financial instruments	1,450,000		(402,000)		(2,302,000)		(5,401,000)
Impairment of real estate investments	(3,064,000)		—		(3,064,000)		—
(Loss) income from unconsolidated entity	(377,000)		(79,000)		952,000		185,000
Other income	8,000		13,000		278,000		162,000
Loss before income taxes	(5,191,000)		(1,911,000)		(14,240,000)		(20,151,000)
Income tax benefit (expense)	39,000		(7,000)		—		(17,000)
Net loss	(5,152,000)		(1,918,000)		(14,240,000)		(20,168,000)
Less: net loss attributable to noncontrolling interests	232,000		19,000		608,000		76,000
Net loss attributable to controlling interest	$	(4,920,000)	$	(1,899,000)	$	(13,632,000)	$	(20,092,000)
Net loss per Class T and Class I common share attributable to controlling interest — basic and diluted	$	(0.06)	$	(0.02)	$	(0.17)	$	(0.26)
Weighted average number of Class T and Class I common shares outstanding — basic and diluted	80,788,359		79,502,193		80,498,693		77,894,326


	Three Months Ended September 30, 2020
	Stockholders’ Equity
	Class T and Class I Common Stock
	Number of Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity		Noncontrolling Interest		Total Equity
BALANCE — June 30, 2020	80,599,306	$	805,000	$	726,516,000	$	(159,366,000)	$	567,955,000	$	1,047,000	$	569,002,000
Offering costs — common stock	—	—		5,000		—		5,000		—		5,000
Issuance of common stock under the DRIP	445,239	4,000		4,243,000		—		4,247,000		—		4,247,000
Issuance of vested and nonvested restricted common stock	15,000	—		29,000		—		29,000		—		29,000
Amortization of nonvested common stock compensation	—	—		44,000		—		44,000		—		44,000
Repurchase of common stock	(71,551)	—		(706,000)		—		(706,000)		—		(706,000)
Distributions to noncontrolling interest	—	—		—		—		—		(22,000)		(22,000)
Fair value adjustment to redeemable noncontrolling interests	—	—		(208,000)		—		(208,000)		—		(208,000)
Distributions declared ($0.10 per share)	—	—		—		(8,150,000)		(8,150,000)		—		(8,150,000)
Net loss	—	—		—		(4,920,000)		(4,920,000)		(105,000)		(5,025,000)		(1)
BALANCE — September 30, 2020	80,987,994	$	809,000	$	729,923,000	$	(172,436,000)	$	558,296,000	$	920,000	$	559,216,000


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to


	Three Months Ended September 30, 2019
	Stockholders’ Equity
	Class T and Class I Common Stock
	Number of Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity
BALANCE — June 30, 2019	79,084,339	$	791,000	$	712,076,000	$	(105,918,000)	$	606,949,000
Issuance of common stock	(1,393)	—		(14,000)		—		(14,000)
Offering costs — common stock	—	—		66,000		—		66,000
Issuance of common stock under the DRIP	691,703	7,000		6,592,000		—		6,599,000
Issuance of vested and nonvested restricted common stock	15,000	—		29,000		—		29,000
Amortization of nonvested common stock compensation	—	—		43,000		—		43,000
Repurchase of common stock	(308,837)	(3,000)		(2,820,000)		—		(2,823,000)
Fair value adjustment to redeemable noncontrolling interests	—	—		(23,000)		—		(23,000)
Distributions declared ($0.15 per share)	—	—		—		(12,030,000)		(12,030,000)
Net loss	—	—		—		(1,899,000)		(1,899,000)		(1)
BALANCE — September 30, 2019	79,480,812	$	795,000	$	715,949,000	$	(119,847,000)	$	596,897,000


	Nine Months Ended September 30, 2020
	Stockholders’ Equity
	Class T and Class I Common Stock
	Number of Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity		Noncontrolling Interest		Total Equity
BALANCE — December 31, 2019	79,899,874	$	798,000	$	719,894,000	$	(130,613,000)	$	590,079,000	$	—	$	590,079,000
Offering costs — common stock	—	—		67,000		—		67,000		—		67,000
Issuance of common stock under the DRIP	1,643,731	16,000		15,665,000		—		15,681,000		—		15,681,000
Issuance of vested and nonvested restricted common stock	22,500	—		43,000		—		43,000		—		43,000
Amortization of nonvested common stock compensation	—	—		128,000		—		128,000		—		128,000
Repurchase of common stock	(578,111)	(5,000)		(5,344,000)		—		(5,349,000)		—		(5,349,000)
Contribution from noncontrolling interest	—	—		—		—		—		1,250,000		1,250,000
Distributions to noncontrolling interest	—	—		—		—		—		(54,000)		(54,000)
Fair value adjustment to redeemable noncontrolling interests	—	—		(530,000)		—		(530,000)		—		(530,000)
Distributions declared ($0.35 per share)	—	—		—		(28,191,000)		(28,191,000)		—		(28,191,000)
Net loss	—	—		—		(13,632,000)		(13,632,000)		(276,000)		(13,908,000)		(1)
BALANCE — September 30, 2020	80,987,994	$	809,000	$	729,923,000	$	(172,436,000)	$	558,296,000	$	920,000	$	559,216,000



	Nine Months Ended September 30, 2019
	Stockholders’ Equity
	Class T and Class I Common Stock
	Number of Shares	Amount		Additional Paid-In Capital		Accumulated Deficit		Total Stockholders’ Equity
BALANCE — December 31, 2018	69,254,971	$	692,000	$	621,759,000	$	(64,779,000)	$	557,672,000
Issuance of common stock	8,884,165	89,000		88,626,000		—		88,715,000
Offering costs — common stock	—	—		(7,385,000)		—		(7,385,000)
Issuance of common stock under the DRIP	1,987,822	20,000		19,036,000		—		19,056,000
Issuance of vested and nonvested restricted common stock	22,500	—		43,000		—		43,000
Amortization of nonvested common stock compensation	—	—		121,000		—		121,000
Repurchase of common stock	(668,646)	(6,000)		(6,186,000)		—		(6,192,000)





Fair value adjustment to redeemable noncontrolling interests	—	—		(65,000)		—		(65,000)
Distributions declared ($0.45 per share)	—	—		—		(34,976,000)		(34,976,000)
Net loss	—	—		—		(20,092,000)		(20,092,000)		(1)

BALANCE — September 30, 2019	79,480,812	$	795,000	$	715,949,000	$	(119,847,000)	$	596,897,000


	Medicaid		Private and Other Payors		Total
Beginning balance — January 1, 2020	$	3,154,000	$	650,000	$	3,804,000
Ending balance — September 30, 2020	2,317,000		1,234,000		3,551,000
(Decrease)/increase	$	(837,000)	$	584,000	$	(253,000)



	September 30, 2020		December 31, 2019
Building and improvements	$	883,849,000	$	836,091,000
Land	109,420,000		103,371,000
Furniture, fixtures and equipment	8,241,000		6,656,000
	1,001,510,000		946,118,000
Less: accumulated depreciation	(73,444,000)		(51,058,000)
Total	$	928,066,000	$	895,060,000


Acquisition	Location	Type	Date Acquired	Contract Purchase Price		Line of Credit(1)		Total Acquisition Fee(2)
Catalina West Haven ALF(3)	West Haven, UT	Senior Housing — RIDEA	01/01/20	$	12,799,000	$	12,700,000	$	278,000
Louisiana Senior Housing Portfolio(4)	Gonzales, Monroe, New Iberia, Shreveport and Slidell, LA	Senior Housing — RIDEA	01/03/20	34,000,000		32,700,000		737,000
Catalina Madera ALF(3)	Madera, CA	Senior Housing — RIDEA	01/31/20	17,900,000		17,300,000		389,000


Total				$	64,699,000	$	62,700,000	$	1,404,000


	2020 Acquisitions
Building and improvements	$	49,792,000
Land	7,632,000

In-place leases	8,974,000


Furniture, fixtures and equipment	854,000

Total assets acquired	$	67,252,000


	September 30, 2020		December 31, 2019
Amortized intangible assets:
In-place leases, net of accumulated amortization of $28,935,000 and $18,273,000 as of September 30, 2020 and December 31, 2019, respectively (with a weighted average remaining life of 8.8 years and 9.5 years as of September 30, 2020 and December 31, 2019, respectively)	$	65,593,000	$	70,650,000
Above-market leases, net of accumulated amortization of $938,000 and $609,000 as of September 30, 2020 and December 31, 2019, respectively (with a weighted average remaining life of 9.1 years and 9.5 years as of September 30, 2020 and December 31, 2019, respectively)	2,695,000		3,025,000
Unamortized intangible assets:
Certificates of need	348,000		348,000
Total	$	68,636,000	$	74,023,000


	Nine Months Ended September 30,
	2020		2019

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Beginning of period:
Cash and cash equivalents	$	15,290,000	$	14,388,000
Restricted cash	556,000		202,000
Cash, cash equivalents and restricted cash	$	15,846,000	$	14,590,000
End of period:
Cash and cash equivalents	$	22,690,000	$	22,448,000
Restricted cash	706,000		420,000
Cash, cash equivalents and restricted cash	$	23,396,000	$	22,868,000

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

Cash paid for:
Interest	$	13,777,000	$	9,369,000
Income taxes	$	88,000	$	21,000
SUPPLEMENTAL DISCLOSURE OF NONCASH ACTIVITIES
Investing Activities:
Accrued capital expenditures	$	2,182,000	$	4,205,000
Tenant improvement overage	$	636,000	$	195,000
Accrued pre-acquisition expenses	$	—	$	184,000
The following represents the increase in certain assets and liabilities in connection with our acquisitions of real estate investments:
Right-of-use asset	$	—	$	2,196,000
Other assets	$	196,000	$	86,000
Mortgage loan payable, net	$	—	$	9,735,000
Accounts payable and accrued liabilities	$	201,000	$	783,000
Operating lease liability	$	—	$	4,489,000
Security deposits and prepaid rent	$	11,000	$	1,343,000
Financing Activities:
Issuance of common stock under the DRIP	$	15,681,000	$	19,056,000
Distributions declared but not paid	$	2,664,000	$	3,933,000
Accrued stockholder servicing fee	$	7,667,000	$	14,241,000


Year	Amount
2020	$	4,535,000
2021	11,920,000
2022	8,648,000
2023	7,384,000
2024	6,155,000
Thereafter	29,646,000
Total	$	68,288,000


Year	Amount
2020	$	151,000
2021	622,000
2022	651,000
2023	680,000
2024	711,000
Thereafter	16,118,000
Total	$	18,933,000


						Fair Value
Instrument	Notional Amount		Index	Interest Rate	Maturity Date	September 30, 2020		December 31, 2019
Swap	$	139,500,000	one month LIBOR	2.49%	11/19/21	$	(3,713,000)	$	(2,441,000)
Swap	58,800,000		one month LIBOR	2.49%	11/19/21	(1,565,000)		(1,029,000)
Swap	45,000,000		one month LIBOR	0.20%	11/19/21	(27,000)		—
Swap	36,700,000		one month LIBOR	2.49%	11/19/21	(977,000)		(642,000)
Swap	15,000,000		one month LIBOR	2.53%	11/19/21	(405,000)		(273,000)
	$	295,000,000				$	(6,687,000)	$	(4,385,000)


	September 30, 2020		December 31, 2019
Investment in unconsolidated entity	$	47,968,000	$	47,016,000
Deferred rent receivables	11,458,000		8,018,000
Prepaid expenses, deposits and other assets	10,007,000		2,380,000
Lease commissions, net of accumulated amortization of $336,000 and $174,000 as of September 30, 2020 and December 31, 2019, respectively	2,340,000		1,623,000
Deferred financing costs, net of accumulated amortization of $2,927,000 and $1,517,000 as of September 30, 2020 and December 31, 2019, respectively(1)	2,194,000		3,583,000
Total	$	73,967,000	$	62,620,000


Approval Date by our Board	Established Per Share NAV (Unaudited)
04/06/18	$	9.65
04/04/19	$	9.54
04/02/20	$	9.54


	12 months ended September 30,
	2020		2019
Operating expenses as a percentage of average invested assets	1.1	%	1.2	%
Operating expenses as a percentage of net income	32.7	%	42.0	%


		Nine Months Ended September 30, 2019
Officer’s Name	Title	Amount		Shares
Jeffrey T. Hanson	Chief Executive Officer and Chairman of the Board of Directors	$	10,000	995
Danny Prosky	President and Chief Operating Officer	11,000		1,103
Mathieu B. Streiff	Executive Vice President and General Counsel	10,000		999
Brian S. Peay	Chief Financial Officer	1,000		88
Stefan K.L. Oh	Executive Vice President of Acquisitions	1,000		127
Christopher M. Belford	Vice President of Asset Management	1,000		102
Wendie Newman	Vice President of Asset Management	1,000		34
Total		$	35,000	3,448


Fee	September 30, 2020		December 31, 2019
Asset management fees	$	815,000	$	768,000
Property management fees	128,000		145,000
Construction management fees	31,000		65,000
Operating expenses	11,000		12,000
Acquisition and development fees	2,000		5,000
Lease commissions	—		21,000
Total	$	987,000	$	1,016,000


	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total


Liabilities:
Derivative financial instruments	$	—	$	6,687,000	$	—	$	6,687,000


	September 30, 2020				December 31, 2019
	Carrying Amount(1)		Fair Value		Carrying Amount(1)		Fair Value



Financial Liabilities:
Mortgage loans payable	$	17,974,000	$	21,944,000	$	26,070,000	$	26,677,000
Line of credit and term loans	$	477,306,000	$	480,348,000	$	393,217,000	$	396,891,000


	September 30, 2020		December 31, 2019
Weighted average remaining lease term (in years)	79.7		80.4
Weighted average discount rate	5.74	%	5.74	%


	Medical Office Buildings		Senior Housing — RIDEA		Skilled Nursing Facilities		Senior Housing		Three Months Ended September 30, 2020
Revenues and grant income:
Real estate revenue	$	16,338,000	$	—	$	2,979,000	$	2,202,000	$	21,519,000
Resident fees and services	—		18,948,000		—		—		18,948,000
Grant income	—		864,000		—		—		864,000
Total revenues and grant income	16,338,000		19,812,000		2,979,000		2,202,000		41,331,000
Expenses:
Rental expenses	5,607,000		—		125,000		173,000		5,905,000
Property operating expenses	—		17,397,000		—		—		17,397,000
Segment net operating income	$	10,731,000	$	2,415,000	$	2,854,000	$	2,029,000	$	18,029,000
Expenses:
General and administrative									$	3,672,000
Acquisition related expenses									57,000
Depreciation and amortization									12,669,000
Other income (expense):
Interest expense:
Interest expense (including amortization of deferred financing costs and debt discount/premium)									(4,839,000)
Gain in fair value of derivative financial instruments									1,450,000
Impairment of real estate investments									(3,064,000)
Loss from unconsolidated entity									(377,000)
Other income									8,000
Loss before income taxes									(5,191,000)
Income tax benefit									39,000
Net loss									$	(5,152,000)


	September 30, 2020		December 31, 2019
Medical office buildings	$	590,075,000	$	600,048,000
Senior housing — RIDEA	247,972,000		149,055,000
Skilled nursing facilities	120,219,000		121,749,000
Senior housing	101,225,000		142,982,000
Other	51,999,000		54,493,000
Total assets	$	1,111,490,000	$	1,068,327,000


	September 30,
	2020						2019
	Number of Buildings	Aggregate Contract Purchase Price			Leased %		Number of Buildings	Aggregate Contract Purchase Price		Leased %
Medical office buildings	43	$	605,122,000	(1)	93.0	%	39	$	562,439,000	92.5	%
Senior housing — RIDEA	26	264,349,000			(2)		14	153,850,000		(2)
Senior housing	14	101,800,000			100	%	19	147,600,000		100	%
Skilled nursing facilities	11	117,800,000			100	%	11	117,800,000		100	%
Total/weighted average(3)	94	$	1,089,071,000		95.4	%	83	$	981,689,000	95.4	%


	Payments Due by Period
	2020		2021-2022		2023-2024		Thereafter		Total
Principal payments — fixed-rate debt	$	151,000	$	1,273,000	$	1,391,000	$	16,118,000	$	18,933,000
Interest payments — fixed-rate debt	186,000		1,429,000		1,309,000		5,443,000		8,367,000
Principal payments — variable-rate debt	—		479,500,000		—		—		479,500,000
Interest payments — variable-rate debt (based on rates in effect as of September 30, 2020)	2,574,000		9,474,000		—		—		12,048,000
Ground lease obligations	212,000		1,049,000		1,064,000		47,103,000		49,428,000
Total	$	3,123,000	$	492,725,000	$	3,764,000	$	68,664,000	$	568,276,000


	Expected Maturity Date
	2020			2021			2022			2023			2024			Thereafter			Total			Fair Value








Fixed-rate debt — principal payments	$	151,000		$	622,000		$	651,000		$	680,000		$	711,000		$	16,118,000		$	18,933,000		$	21,944,000
Weighted average interest rate on maturing fixed-rate debt	4.48		%	4.48		%	4.49		%	4.49		%	4.50		%	3.84		%	3.94		%	—
Variable-rate debt — principal payments	$	—		$	479,500,000		$	—		$	—		$	—		$	—		$	479,500,000		$	480,348,000
Weighted average interest rate on maturing variable-rate debt (based on rates in effect as of September 30, 2020)	—		%	2.12		%	—		%	—		%	—		%	—		%	2.12		%	—


Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased As Part of Publicly Announced Plan or Program	Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
July 1, 2020 to July 31, 2020	71,551	$	9.87	71,551	(1)
August 1, 2020 to August 31, 2020	—	$	—	—	(1)
September 1, 2020 to September 30, 2020	—	$	—	—	(1)
Total	71,551	$	9.87	71,551


3.1			Third Articles of Amendment and Restatement of Griffin-American Healthcare REIT IV, Inc., dated December 28, 2015 (included as Exhibit 3.1 to Pre-effective Amendment No. 2 to our Registration Statement on Form S-11 (File No. 333-205960) filed January 5, 2016 and incorporated herein by reference)

3.2			Articles Supplementary of Griffin-American Healthcare REIT IV, Inc. filed May 25, 2016 (included as Exhibit 3.1 to our Current Report on Form 8-K filed May 26, 2016 and incorporated herein by reference)

3.3			Second Amended and Restated Bylaws of Griffin-American Healthcare REIT IV, Inc. (included as Exhibit 3.2 to Pre-effective Amendment No. 2 to our Registration Statement on Form S-11 (File No. 333-205960) filed January 5, 2016 and incorporated herein by reference)

4.1			Amended and Restated Distribution Reinvestment Plan of Griffin-American Healthcare REIT IV, Inc. (included as Exhibit 4.6 to our Registration Statement on Form S-3 (File No. 333-229301) filed January 18, 2019 and incorporated herein by reference)

10.1			Confirmation of swap transaction, dated August 27, 2020 from Fifth Third Bank, National Association to Griffin-American Healthcare REIT IV Holdings, LP (included as Exhibit 10.1 to our Current Report on Form 8-K filed September 1, 2020 and incorporated herein by reference)

31.1*			Certification of Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2*			Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1**			Certification of Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002

32.2**			Certification of Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002

101.INS*			Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document

101.SCH*			Inline XBRL Taxonomy Extension Schema Document

101.CAL*			Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*			Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*			Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE*			Inline XBRL Taxonomy Extension Presentation Linkbase Document

104*			Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


*			Filed herewith.
**			Furnished herewith. In accordance with Item 601(b)(32) of Regulation S-K, this Exhibit is not deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section. Such certifications will not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that the registrant specifically incorporates it by reference.