Grubb & Ellis Healthcare REIT Acquires 185,000 SF Wisconsin Medical Office Buildings... ( SANTA ANA Calif. March 5 /- Grubb &am...)

Grubb & Ellis Healthcare REIT Acquires 185,000 SF Wisconsin Medical Office Buildings Portfolio

Date:3/5/2009

SANTA ANA, Calif., March 5 /PRNewswire/ -- Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Wisconsin Medical Office Buildings Portfolio, an aggregate of four medical office buildings located in the Greater Milwaukee area. With buildings in Menomonee Falls, Milwaukee, Richfield and Mequon, the portfolio consists of approximately 185,000 square feet of gross leaseable area.

"This is a sale/leaseback transaction with one of the leading providers of healthcare services in Wisconsin," said Scott D. Peters, chief executive officer and president, Grubb & Ellis Healthcare REIT. "These types of transactions with attractive credit tenants are of great value to Grubb & Ellis Healthcare REIT and further strengthen our expansive portfolio."

The tenant holds an "A" credit rating from Fitch Ratings, a leading global rating agency.

About Grubb & Ellis Healthcare REIT

Grubb & Ellis Healthcare REIT, Inc. is a publicly registered, non-traded real estate investment trust. Grubb & Ellis Healthcare REIT has made 43 geographically diverse acquisitions valued at approximately $1 billion based on purchase price, which includes 133 buildings, as of February 27, 2009. The REIT's portfolio totals approximately 5.3 million square feet, and includes 114 medical office buildings, four hospitals, 12 skilled nursing and assisted living facilities and three other office buildings located in 18 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia and Wisconsin.

About Grubb & Ellis Company

Grubb & Ellis Company (NYSE: GBE), one of the largest and most respected commercial real estate services companies, is the spo
'/>"/>

0

GOOD

Post Your Comments:

Grubb & Ellis Healthcare REIT Acquires 185,000 SF Wisconsin Medical Office Buildings...( SANTA ANA Calif. March 5 /- Grubb &am...),Health