GRUBB & ELLIS HEALTHCARE REIT TAKES 112,000-SQUARE-FOOT MEDICAL CENTER

BOUNTIFUL, UTAH — Grubb & Ellis Healthcare REIT Inc. has acquired Renaissance Medical Centre, a five-story Class A medical office building located at 1551 S. Renaissance Dr. in Bountiful. Completed in 2004, the property consists of 112,000 square feet of gross leaseable area. The center is approximately 88 percent leased and anchored by MountainWest Surgical Center, which leases approximately 30,000 square feet. The property was sold by an unaffiliated third party represented by Chris Bodnar of CB Richard Ellis – Colorado Private Client Group. Grubb & Ellis Healthcare REIT primarily financed the acquisition through the assumption of the two existing loans on the property, which are serviced by Midland Loan Services Inc. and Wachovia Bank N.A., and cash on hand.