Business Context and Reporting Period
This Form 8-K was filed by Griffin-American Healthcare REIT IV, Inc. (referred to in metadata as American Healthcare REIT, Inc.) on February 12, 2020. The registrant is an emerging growth company incorporated in Maryland. The filing reports a corporate governance event regarding the renewal of its advisory agreement.
Key Financial Metrics
This filing is a Current Report (Item 8.01 Other Events) and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material change reported is the execution of an additional mutual consent to renew the advisory agreement between the registrant, its operating partnership (Griffin-American Healthcare REIT IV Holdings, LP), and its advisor (Griffin-American Healthcare REIT IV Advisor, LLC). This renewal extends the term of the agreement, which was originally dated February 16, 2016, and previously renewed in 2017, 2018, and 2019.
Guidance, Outlook, and Risks
- Agreement Term: The renewed advisory agreement will terminate on February 16, 2021, unless earlier terminated per the agreement's terms.
- Future Renewal: The agreement may be renewed for an additional one-year term upon written mutual consent of the parties.
- Outlook: No specific financial guidance or management commentary regarding future performance was included in this filing.
Key Facts for Investor Verification
- Verify the specific compensation terms and fee structure within the renewed advisory agreement, as this filing only confirms the renewal date and term.
- Confirm the relationship between the registrant and the advisor to ensure alignment of interests.
- Note that the registrant has elected to use the extended transition period for complying with new or revised financial accounting standards as an emerging growth company.