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Grubb & Ellis (GBE) Healthcare REIT II Acquires Center for Neurosurgery and Spine Near St. Cloud, Minnesotta


4/7/2010 7:57:38 AM

ST. CLOUD, Minn., April 6 /PRNewswire/ -- Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired the Center for Neurosurgery and Spine, a 36,600-square-foot, two-building medical office portfolio in the St. Cloud suburb of Sartell.

"The Center for Neurosurgery and Spine is completely occupied, well-located near the region's largest hospital and in the midst of a thriving population center with growing demand for medical care," said Jeff Hanson, chairman and chief executive officer. "These are key attributes that make this an ideal acquisition for Grubb & Ellis Healthcare REIT II."

The property was acquired from unaffiliated third parties: Stingray Properties LLC, Crystal Blue Properties LLC, Sylvan Holdings LLC and Dr. Samuel Elghor. The sellers were represented by Noah Larson of Grubb & Ellis|Northco Real Estate Services.

Grubb & Ellis Healthcare REIT II is sponsored by Grubb & Ellis Company . Grubb & Ellis is one of the largest and most respected commercial real estate services and investment companies in the world. Grubb & Ellis Company's 6,500 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including publicly registered non-traded real estate investment trusts (REITs), tenant-in-common (TIC) investments suitable for tax deferred 1031 exchanges, separate accounts and other real estate investment funds. For more information, visit www.grubb-ellis.com.

THIS IS NEITHER AN OFFER TO SELL NOR AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. OFFERINGS ARE MADE ONLY BY MEANS OF A PROSPECTUS OR OFFERING MEMORANDUM.

Grubb & Ellis Healthcare REIT II, Inc.



Read at BioSpace.com


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