SANTA ANA, CA (Feb. 18, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today reported fourth quarter 2009 revenue of $150.6 million, compared with revenue of $160.0 million for the fourth quarter of 2008.
For the full year 2009, Grubb & Ellis reported revenue of $535.6 million, compared with revenue of $628.8 million in 2008.
Net income attributable to the company for the fourth quarter of 2009 was $16.8 million, or $0.11 per share, primarily as a result of a gain of $21.9 million realized on the repayment of debt and $3.5 million of income from discontinued operations related to the disposal of two real estate related assets held for sale.
In the comparable 2008 period, the company reported a net loss of $262.9 million, or $4.15 per share.
For 2009, the company reported a net loss of $78.8 million, or $1.27 per share, compared with a net loss of $330.9 million, or $5.21 per share, for the same period a year ago.
For a complete copy of the company's news release and financials, please contact Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com
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