Pecan Valley Medical Office Building and Clear Lake Medical Office Building were acquired from unaffiliated third parties. All sellers were represented by P.J. Camp and Jay Miele of Shattuck Hammond Partners.
About Grubb & Ellis Healthcare REIT
Grubb & Ellis Healthcare REIT, Inc. is a publicly registered, non-traded real estate investment trust which offers a monthly distribution of 7.25 percent per annum.
As of December 19, 2008, Grubb & Ellis Healthcare REIT has sold approximately 72 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $720 million through its initial public offering, which began in the third quarter of 2006. The REIT is conducting a best efforts offering of up to 200,000,000 shares of its common stock.
Grubb & Ellis Healthcare REIT has made 42 geographically diverse property acquisitions and other real estate-related investments valued at approximately $966.4 million based on purchase price, which includes 129 buildings, as of December 31, 2008. The REIT's property portfolio totals 5.1 million square feet, and includes 110 medical office buildings, four hospitals, 12 skilled nursing and assisted living facilities and three other office buildings located in 17 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah and Virginia.
About Grubb & Ellis Company
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
|SOURCE Grubb & Ellis Healthcare REIT, Inc.|
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