Wednesday, April 20, 2011

Grubb & Ellis Healthcare REIT II Acquires Medical Facilities in Arizona, Texas and Florida

SANTA ANA, CA /PRNewswire/ -- Grubb & Ellis Healthcare REIT II, Inc. announced that it has acquired, in three separate transactions, Yuma Skilled Nursing Facility in Yuma, Ariz., Hardy Oak Medical Building in San Antonio, and Lakewood Ranch Medical Office Building in Bradenton, Fla.  

"The acquisition of these properties was attractive to Grubb & Ellis Healthcare REIT II due to their proximity to well-managed medical centers and their financial performance," said Danny Prosky (top right photo), president and chief operating officer of the REIT.

As of April 8, 2011, Grubb & Ellis Healthcare REIT II has sold approximately 21,844,902 shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $217,954,000 through its initial public offering, which began at the end of the third quarter of 2009.

To date, the REIT has made 19 geographically diverse acquisitions comprised of 33 buildings valued at approximately $262 million, based on purchase price in the aggregate.

Contact: Damon Elder, +1-714-975-2659,

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