David E. Stack is New Project Manager in Dallas, TXStack joins from Jones Lang LaSalle, where he served as a senior vice president of Design and Construction.
“David brings extensive experience as a project manager, having completed five million square feet of project management assignments valued in excess of $400 million,” said Moody Younger, (top right photo) executive managing director, Texas.
“His ability to see the big picture in creating solutions for clients, combined with a detailed, process-oriented execution, enables him to add tremendous value to the companies we serve. I am thrilled he has joined our team.”
Stack spent 11 years as a vice president of Design and Construction for The Staubach Company prior to its acquisition by Jones Lang LaSalle in 2008.
Karl Abert Comes Aboard as Vice President, Multi Housing Group in Phoenix, AZPHOENIX, AZ (Aug. 18, 2010) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that Karl Abert has joined the company as vice president, Multi Housing Group. He will form a team with David Cravath, (middle right photo) vice president, who joined the company in June.
“Karl joins our office with tremendous experience in multi housing sales and brokerage, which was further evidenced by his recent tenure serving as a key asset manager for a receivership on behalf of the FDIC,” said Pete Bolton, (middle left photo) executive vice president, managing director of the company’s Phoenix office.“He and Dave will make an excellent team, leading the Multi Housing capabilities in our Phoenix office.”
Abert joins Grubb & Ellis after serving six months on a receivership on behalf of the FDIC, focusing on commercial and residential subdivision loan workouts in Salt Lake City. Previously, he served in senior Commercial Finance positions of Integrated Commercial Capital and Churchill Commercial Capital.
Contact:
Erin Mays, Phone: 312.698.6735, Email: erin.mays@grubb-ellis.com
Julia McCartney, 714.667.8252, julia.mccartney@grubb-ellis.com
Grubb & Ellis Healthcare REIT II Acquires Cape Girardeau Long-Term Acute Care Hospital in Missouri
CAPE GIRARDEAU, Mo. (Aug. 18, 2010) – Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired Cape Girardeau Long-Term Acute Care Hospital, (lower right photo) a single-story, 26,000-square-foot, Class A single-tenant facility in Cape Girardeau. The acquisition closed on Aug. 12. Located at 3255 Independence St., approximately 115 miles to the south of St. Louis and 170 miles to the north of Memphis, Cape Girardeau Long-Term Acute Care Hospital is within one-and-a-half miles of the 258-bed St. Francis Medical Center, the region’s largest acute care facility and a significant source of referral patients.
“Cape Girardeau Long-Term Acute Care Hospital is the first of a four property portfolio of long-term acute care hospitals we are in the process of acquiring under a long-term sale leaseback agreement,” said Danny Prosky (lower left photo), president and chief operating officer.
“The addition of these long-term care centers further diversifies Grubb & Ellis Healthcare REIT II, from both a geographic and asset mix perspective, and provides stable income for at least the next fifteen years.”
Creative Health Capital, LLC represented the seller, White Oaks Real Estate Investments, LLC, an unaffiliated third party, in the transaction. Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering and $6,500,000 in borrowings under its line of credit with Bank of America, N.A.
Contact:
Damon Elder, Senior Director, Communications, Grubb & Ellis Equity Advisors, LLC
714.975.2659 office, 714.356.1460 cell
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