Griffin-American Healthcare REIT IV found a new operator in Meridian Senior Living for three of its northern California communities. Acquired as part of a five-property portfolio acquisition in June 2017 from Nazareth Healthcare, these communities were then leased to Colonial Oaks under a 15-year absolute net lease with annual rent escalators of 6.5% after the first year and 2.5% thereafter. They were 100% occupied at the time and featured a mix of assisted living and memory care services in Menlo Park (45 MC beds), Sacramento (160 AL and MC beds) and Fairfield (102 MC beds).

Originally, there was a second tranche of facilities supposed to be acquired in the 2017 deal, but Griffin-American and the seller failed to come to an agreement. With Colonial out, moving forward Meridian will operate the three communities on a day-to-day basis.