PARMA, OHIO — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 4, a five-property medical office portfolio with buildings in Ohio, Arizona and Texas. In Parma, Ohio, the company has acquired a three-story medical office building located at 6789 Ridge Rd. The building, which consists of approximately 30,000 square feet of gross leaseable area, houses 26 tenant units and offers 125 parking spaces. The office is situated 1 block from the Parma General Community Hospital. Grubb & Ellis Healthcare REIT acquired Medical Portfolio 4 from affiliated entities of The Cirrus Group LLC. The Cirrus Group LLC was represented by James Moloney and Joe Dominguez of Cain Brothers RE LLC. Financing for this acquisition was primarily provided by Bank of America N.A.
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