Grubb & Ellis Healthcare REIT Acquires 130,000 SF Wisconsin Medical Office Building Portfolio
Scottsdale, AZ – June 4, 2009 – (RealEstateRama) — Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Wisconsin Medical Office Buildings Portfolio 2, which includes two medical office buildings located in the Greater Milwaukee area. The acquisition was completed on May 27, 2009. With buildings in Mequon and Franklin, the portfolio consists of approximately 130,000 square feet of gross leasable area. The acquisition was led by Grubb & Ellis Healthcare REIT’s in-house acquisition team with assistance from its advisor, Grubb & Ellis Healthcare REIT Advisor, LLC.
This is the second sale/leaseback transaction between Aurora Health Care and the Grubb & Ellis Healthcare REIT. These two assets built in 2001 and 2004, respectively, are both ambulatory surgery centers, and are an essential part of the Aurora Health Care delivery network in Southeastern Wisconsin.
“We are very proud to continue to expand this relationship with Aurora, one of the leading providers of healthcare services in Wisconsin,” said Scott D. Peters, chief executive officer and president of Grubb & Ellis Healthcare REIT. “Repeat transactions with significant healthcare providers are of great value to Grubb & Ellis Healthcare REIT and further strengthen our expansive portfolio.”
About Grubb & Ellis Healthcare REIT
Grubb & Ellis Healthcare REIT, Inc. is a publicly registered, non-traded real estate investment trust. Grubb & Ellis Healthcare REIT has made 44 acquisitions valued at approximately $1 billion based on purchase price, which includes 136 buildings and one real estate-related asset, as of May 31, 2009. Grubb & Ellis Healthcare REIT’s portfolio totals approximately 5.5 million square feet, and includes 117 medical office buildings, four hospitals, 12 skilled nursing and assisted living facilities and three other office buildings located in 18 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia and Wisconsin.
Investor Contact:
Scott D. Peters
President & CEO
Grubb & Ellis Healthcare REIT, Inc.
480.998.3478
Media Contact:
Claire Koeneman
President
Financial Relations Board
312.640.6745
