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GRUBB & ELLIS HEALTHCARE REIT ACQUIRES TWO MEDICAL FACILITIES

KELLER AND WICHITA FALLS, TEXAS — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 2, a five-building medical portfolio located in Missouri and Texas. Two of the five buildings are located in Texas: 180 Bear Creek Pkwy. is an 11,000-square-foot surgery center located in Keller. The single-story building is fully leased to Lonestar Endoscopy. The other property, which is located at 1722 Ninth St. in Wichita Falls, is a two-story neurosurgery and imaging building. It contains approximately 25,000 square feet of leaseable space, and is equipped to accommodate a variety of neurodiagnostic studies. The property is fully occupied by North Texas Neurology Associates. The three Missouri properties total 136,200 square feet and are located in O’Fallon and St. Louis. Grubb & Ellis acquired the portfolio from affiliated entities of The Cirrus Group, which was represented by James Moloney of Cain Brothers & Co. The acquisition price was not disclosed.

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