Grubb & Ellis Healthcare REIT II Acquires Highlands Ranch Medical Pavilion Near Denver

DENVER, CO – Grubb & Ellis Healthcare REIT II, Inc.  has acquired Highlands Ranch Medical Pavilion, (top left photo) a Class A medical office building totaling approximately 37,000 square feet in the Denver suburb of Highlands Ranch.

The $8.4 million acquisition closed on April 30.

Located at 8671 S. Quebec St., Highlands Ranch Medical Pavilion is within approximately five miles of both the 231-bed Littleton Adventist Hospital and the 186-bed Sky Ridge Medical Center.

Littleton Adventist is a member hospital of Centura Health, while Sky Ridge Medical Center is a member hospital of HealthONE. Built in 1999 on approximately 3.5 acres of land, the property is 94 percent occupied by multiple tenants, including Belleview Family Medicine PC, National Jewish Medical and Research Center and Arapahoe Park Pediatrics PC.

“Highlands Ranch Medical Pavilion is located in one of Colorado’s most affluent neighborhoods, near two large hospitals and in the midst of one of the nation’s growing metropolitan regions, all of which make this an ideal acquisition for Grubb & Ellis Healthcare REIT II,” said Jeff Hanson, (middle right photo)  chairman and chief executive officer.

 “But most importantly, this acquisition is immediately accretive to our bottom line, delivering a rate of return well in excess of our 6.5 percent per annum distribution paid to investors.”

Highlands Ranch Medical Pavilion is located 12 miles south of Denver and enjoys close proximity to Interstate 25, Colorado’s primary north/south thoroughfare, and the C-470 Beltway, affording tenants easy access to all of Greater Denver.

The building provides a variety of medical services to patients, including: asthma, allergy and immunology; radiology and imaging; pediatric services; physical therapy; behavioral health services; obstetrics and gynecology services; family practice and oral and maxillofacial surgery.

The property was acquired from HRMED LLC, an unaffiliated third party represented by Geoff Baukol and Chris Bodnar of CB Richard Ellis.


Contact: Damon Elder, Senior Director, Communications, Grubb & Ellis Equity Advisors, LLC 714.975.2659 direct, 714.356.1460 cell



Trae Anderson Joins Grubb & Ellis as Senior Vice President, Office Group

DALLAS, TX – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that Trae Anderson has joined the firm as senior vice president, Office Group. In this role, Anderson will enhance Grubb & Ellis’ existing landlord representation presence in the Dallas office market.

“Trae’s extensive leasing background and dedication to excellent client service makes him a tremendous addition to our Dallas leasing team,” said Moody Younger, executive vice president and managing director. “His relationships and great reputation will enable Grubb and Ellis to increase our market share of office listings, and I couldn’t be more pleased that he has decided to join our team.”

Anderson, 37, spent the last two years as a managing partner with Dominus Commercial, Inc., where he was responsible for providing landlord representation services and providing oversight of the company’s leasing team. While at Dominus, Anderson earned the company’s Top Producer Award in 2009, in part by growing the firm’s leasing assignments by 1 million square feet.

Contact: Julia McCartney, Phone: 714.975.2230, Email: julia.mccartney@grubb-ellis.com


John Clark and Robert Lundin Join Grubb & Ellis as Senior Vice Presidents, Office Group

CHICAGO, IL – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced that John Clark and Robert Lundin have joined the company as senior vice presidents, Office Group. The hires, which are effective immediately, are part of the company’s overall strategy to significantly enhance its Investor Services platform.

In this role, Clark, 50, and Lundin, 48, will help to further build Grubb & Ellis’ agency landlord representation presence in the suburban Chicago market. The team joins from Jones Lang LaSalle and includes Jesse Slack, 25, as associate vice president.

Contact: Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com
 
 
Grubb & Ellis  to Present at Investor Conference

SANTA ANA, CA. (May 7, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that Thomas P. D’Arcy, (bottom right photo)  president and chief executive officer, will be presenting at The Ninth Annual JMP Securities Research Conference in San Francisco on Wednesday, May 12, 2010, at 11:30 a.m. PDT.

A live audio webcast of the presentation will be accessible via the Investor Relations section of the company’s website at www.grubb-ellis.com/InvestorRelations. An audio replay of the webcast will be posted within 24 hours of the live event and available at this url for 90 days thereafter.

Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com


Grubb & Ellis  Announces Closing of Sale of $30M of Unsecured Convertible Senior Notes

SANTA ANA, Calif. (May 7, 2010) — Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced the completion of its offering of $30.0 million aggregate principal amount of unsecured convertible senior notes due 2015. The notes have an interest rate of 7.95% per annum.

The company also granted the initial purchaser a 45-day option to purchase up to an additional $4.5 million aggregate principal amount of notes to cover over-allotments, if any.

The company estimates that the net proceeds from the offering will be approximately $28.0 million after deducting offering expenses. The company intends to use the net proceeds from the offering to fund growth initiatives, short-term working capital and general corporate purposes.

The notes were sold in a private placement to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended.

The notes and the underlying common stock issuable upon conversion have not been registered under the Securities Act or applicable state securities laws.

 This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes (including the shares of common stock into which the notes are convertible), nor shall there be any sale of the notes (including the shares of common stock into which the notes are convertible) in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact: Janice McDill, Phone: 312.698.6707, Email: janice.mcdill@grubb-ellis.com