SEAVEST SELLS MOB PORTFOLIO FOR APPROX. $30 MILLION

ALICE, LUFKIN, VICTORIA AND WHARTON — Seavest has closed on the sale of an eight-property medical office building (MOB) portfolio for approximately $30 million. Grubb & Ellis Healthcare REIT II Inc. purchased the portfolio, which totals 156,220 square feet and had been a part of the Seavest Properties I LLC investment fund since they were developed by the company from 2000 to 2002. The eight properties are located in Alice, Lufkin, Victoria and Wharton, Texas, Carlsbad and Hobbs, N.M., Hope, Ark., and Lake Charles, La. The MOBs were originally master-leased to Triad Hospitals Inc. for terms ranging from 12 to 15 years and are located on land leased from the hospitals. Three of the properties were later sold by Triad to Signature Hospitals in Wharton, Christus Spohn Health System in Alice, and Shiloh Health System in Hope. The other five properties are on the campuses of hospitals now operated by Community Health Systems Inc., which acquired Triad in 2007.