Grubb & Ellis Healthcare REIT II Enters Agreements to Acquire Eight Medical Office Buildings for $112 Million

SANTA ANA, CA– Grubb & Ellis Healthcare REIT II, Inc. announced that it has entered into separate agreements to acquire eight medical office buildings for an aggregate total of $112 million. 

 Built between 1996 and 2008 in Arizona, California, Florida, Georgia, South Carolina, Texas and Washington, the eight medical office buildings total approximately 451,000 square feet.

 Including the previously announced agreement to acquire the $166.5-million Southeastern Skilled Nursing Facility Portfolio, Grubb & Ellis Healthcare REIT II now has more than $278 million of clinical healthcare real estate properties under contract.  The acquisitions are subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreements.

“Grubb & Ellis Healthcare REIT II is aggressively acquiring quality, income-generating healthcare properties throughout the country and expects to own a portfolio of 73 buildings valued at nearly $710 million based on purchase price within the next several months,” explained Danny Prosky (top right photo), president and chief operating officer. 

“We are most proud of the fact that each and every property we have acquired, and have under contract to acquire, is accretive and supportive of our investor distributions.”

 As of Nov. 4, 2011, Grubb & Ellis Healthcare REIT II has sold approximately 42,651,049 shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $425,605,000 through its initial public offering.

 To date, the REIT has made 24 geographically diverse acquisitions comprised of 55 buildings valued at approximately $430.8 million, based on purchase price in the aggregate. The company’s property portfolio achieved an aggregate average occupancy of 97 percent, held leverage of 25.6 percent and had an average remaining lease term of 10.0 years as of Sept. 30, 2011.

 For more information on all of the companies in this announcement, please visit

www.gbe-reits.com/healthcare2,  www.AmericanHealthcareInvestors.com and

http://www.griffincapital.com./

 Contact:

Damon Elder

Partner

Spotlight Marketing Communications

(714) 371-4029 office

(714) 356-1460 cell