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Grubb & Ellis Healthcare REIT Acquires Fort Road Medical Building in St. Paul, Minnesota
Date:3/12/2008

SANTA ANA, Calif., March 12 /PRNewswire-FirstCall/ -- Grubb & Ellis Healthcare REIT, Inc. has acquired the Fort Road Medical Building in St. Paul, Minnesota.

Located on approximately one acre of land, the Fort Road Medical Building is a four-story multi-tenant office structure, consisting of approximately 50,000 square feet of gross leasable area. Built in 1981, the building is fully integrated into the United Hospital and Children's Hospital and Clinics of Minnesota -- St. Paul campus, and is connected to nearby hospitals and medical office buildings by underground tunnels. The Fort Road Medical Building is also physically connected to the apartment and condo complex, Irvine Park Towers and Condominiums. The property is currently 90% leased.

"Located in such a thriving area, the Fort Road Medical Building is an excellent addition to our portfolio," said Danny Prosky, Vice President, Acquisitions, Grubb & Ellis Healthcare REIT. "It is also located less than one mile from the Gallery Professional Building, which was acquired by Grubb & Ellis Healthcare REIT approximately one year ago."

Combined, the United Hospital and Children's Hospital and Clinics of Minnesota -- St. Paul campus is an approximate 2,000 bed full-service hospital that serves the Minneapolis and St. Paul communities. The campus includes a 400-stall parking structure directly to the north of the Fort Road Medical Building, which is separately owned and operated.

Grubb & Ellis Healthcare REIT purchased the Fort Road Medical building from Fort Road Associates Limited Partnership, an unaffiliated third party, which was represented by Mark Davis of Davis Real Estate Services Group, LLC. Financing was primarily provided by LaSalle Bank.

As of March 7, 2008, Grubb & Ellis Healthcare REIT has sold approximately 25.8 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $257 million through its init
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SOURCE Grubb & Ellis Healthcare REIT, Inc.
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