Grubb & Ellis Healthcare REIT II Acquires Pocatello East Medical Office Building in Idaho

POCATELLO, ID (Aug. 2, 2010) – Grubb & Ellis Healthcare REIT II, Inc. has acquired a 98.75 percent interest in Pocatello East Medical Office Building, a four-story, 76,000-square-foot, Class A multi-tenant facility in Pocatello. The acquisition closed on July 27.

Located at 777 Hospital Way, Pocatello East Medical Office Building is attached to the 250-bed Portneuf Medical Center, (top left photo)  the only acute care facility within 50 miles. A significant renovation and expansion project is currently underway that will add an additional 300,000 square feet to the medical center in mid-2011.

“We believe the acquisition of Pocatello East Medical Office Building is a home run for Grubb & Ellis Healthcare REIT II,” said Danny Prosky (middle right photo), president and chief operating officer.

“It is physically attached to the region’s largest medical center, (which is expanding), it is only three years old, and it is fully leased through 2018, providing the REIT with steady and accretive income that supports our stockholder distribution.”

Built in 2007, the property is 100 percent leased to Pocatello Health Services, LLC and Pocatello Hospital, LLC. Both tenants are signed to long-term leases through 2018 and 2019, respectively.

Philip J. Camp and Laca Wong Hammond of Shattuck Hammond Partners represented the seller, an unaffiliated third party, in the transaction.

Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering and $5,000,000 in borrowings under its line of credit with Bank of America, N.A.

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

Grubb & Ellis  Enhances Real Estate Services Platform with Senior Housing Practice Group

SAN DIEGO, CA (Aug. 3, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Alan J. Ursillo (lower left photo)  has joined the company as executive managing director, Senior Housing practice group.

Ursillo joins from BRE Commercial, where he specialized in the sale of senior housing and investment properties throughout California and nationally.

Ursillo will lead the expansion of the company’s capabilities and commitment to provide fully integrated real estate services platform for clients in senior housing sector.

“As the number of adults over the age of 65 grows, the demand for senior housing as a real estate investment will continue to increase,” said Greg Coxon, president, Brokerage Services. “Alan’s addition to our team greatly enhances our ability to support our clients as they seek to capitalize on the opportunities in the senior housing sector.”


Contacts:

Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com
Julia McCartney, 714.975.2230, julia.mccartney@grubb-ellis.com