"Demand for healthcare services in this country is growing rapidly, as is demand for quality healthcare facilities," explained Danny Prosky, vice president of acquisitions for Grubb & Ellis Healthcare REIT. "The acquisition of Chesterfield Rehabilitation Center further strengthens and diversifies the Grubb & Ellis Healthcare REIT, which has rapidly grown to become one of the finest portfolios of healthcare facilities in the nation."
Duke Realty was represented by Philip B. Mahler and Jeffrey H. Cooper of Savills Granite. Financing was provided by National City Bank and arranged by William Bennett. Asset management services will be provided by Grubb & Ellis Company.
As of December 14, 2007, Grubb & Ellis Healthcare REIT has sold approximately 20.4 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for more than $203 million through its initial public offering, which began in the third quarter of 2006.
Grubb & Ellis Healthcare REIT offers a monthly distribution of 7.25 percent per annum and has made 19 geographically-diverse acquisitions with a total portfolio valued in excess of $392 million.
About Grubb & Ellis
Grubb & Ellis Company (NYSE: GBE), one of the largest and most
respected commercial real estate services companies, is the sponsor of
Grubb & Ellis Healthcare REIT, Inc. With more than 130 owned and affiliate
offices worldwide, Grubb & Ellis offers property owners, corporate
occupants and investors comprehensive integrated real estate solutions,
including transaction, management, consulting and investment advisory
|SOURCE Grubb & Ellis|
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