Grubb & Ellis Healthcare REIT II Enters Agreement to Acquire Lacombe Medical Office Building Near New Orleans

NEW ORLEANS, LA– Grubb & Ellis Healthcare REIT II, Inc. has entered into an agreement to acquire Lacombe Medical Office Building, an approximately 34,000-square-foot, multi-tenant medical facility in the New Orleans suburb of Lacombe.

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement.

Located at 64030 Highway 434, Lacombe Medical Office Building is on the campus of, and physically connected to, Louisiana Medical Center and Heart Hospital, (top left photo)  named one of the nation's 100 Top Hospitals® for cardiovascular care by Thomson Reuters in 2008. In 2009, the hospital completed a $40 million, 120-bed, 109,000-square-foot patient tower, which more than tripled its patient capacity.

“Lacombe Medical Office Building is an ideal acquisition for Grubb & Ellis Healthcare REIT II,” said Jeff Hanson, (middle right photo) chairman and chief executive officer. “The facility is fully leased and located on the campus of a thriving medical center, characteristics that make it extraordinarily attractive based upon our acquisition criterion.”

Lacombe Medical Office Building is 100 percent leased to five tenants, all of which specialize in the field of cardiac surgery.

Contact: Damon Elder, Phone: 714.975.2659, Email: damon.elder@grubb-ellis.com