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8-K - FORM 8-K - GRUBB & ELLIS CO | c08093e8vk.htm |
Exhibit 99.1
news release
for immediate release
for immediate release
Contact:
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Damon Elder | |
Phone:
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714.975.2659 | |
Email:
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damon.elder@grubb-ellis.com |
Grubb & Ellis Equity Advisors Signs Danny Prosky
to Long-Term Employment Contract
to Long-Term Employment Contract
SANTA ANA, Calif. (Nov. 8, 2010) Grubb & Ellis Equity Advisors, LLC, the primary real estate
investment and asset management subsidiary of Grubb & Ellis Company (NYSE: GBE), announced today
that the company has signed a long-term employment contract with Danny Prosky, executive vice
president of healthcare real estate. Prosky also serves as president and chief operating officer
of Grubb & Ellis Healthcare REIT II, Inc., a publicly registered, non-traded real estate investment
trust advised and managed by Grubb & Ellis Equity Advisors.
Danny is widely recognized as one of the nations leading experts in the healthcare-related real
estate sector, said Jeff Hanson, president and chief executive officer of Grubb & Ellis Equity
Advisors. He is a proven leader and we are extraordinarily pleased to reaffirm the companys
commitment to him and to have his continued guidance at the head of our expanding healthcare real
estate practice.
Prosky has spent the entirety of his eighteen-year career in the healthcare real estate sector and
has directly overseen the acquisition of nearly $3 billion in assets. Prosky joined Grubb & Ellis
in 2006, following key roles with notable publicly traded healthcare REITs, including Healthcare
Property Investors and American Health Properties, Inc.
Grubb & Ellis has established itself as one of the leading players in the healthcare real estate
industry and I look forward to further expanding our healthcare platform, said Prosky. My
primary focus will remain building Grubb & Ellis Healthcare REIT II and in pursuing additional
investment opportunities in the growing healthcare-related real estate sector.
According to Prosky, Grubb & Ellis Healthcare REIT II, (which began acquiring assets earlier this
year), is free of legacy asset issues that plague so many investment portfolios that were built at
the height of the last market cycle. Instead, he says that the REIT benefits from being able to
construct its portfolio in the midst of one of the best acquisition markets in recent history.
Prosky added that the REITs financial performance, as measured by widely accepted industry
standards, is the best among non-traded healthcare REITs.
-more-
Grubb & Ellis Equity Advisors, LLC |
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1551 N. Tustin Ave., Suite 300 Santa Ana, California 92705
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714.667.8252 |
2 2 2
11/08/10
Grubb & Ellis Equity Advisors Signs Danny Prosky to Multiyear Employment Contract
11/08/10
Grubb & Ellis Equity Advisors Signs Danny Prosky to Multiyear Employment Contract
Prosky received a bachelors degree from the University of Colorado and a masters degree from
Boston University. From 2007 until May 2010, he served as co-chair of the Medical Office Building
and Healthcare Facilities Conference Planning Committee of the Building Owners and Managers
Association International. He had previously served as vice chair of the committee from 2005 until
2007.
About Grubb & Ellis Equity Advisors
Grubb & Ellis Equity Advisors, LLC is the primary investment and asset management subsidiary of Grubb & Ellis Company (NYSE: GBE), one of the largest and most respected commercial real estate services and investment companies in the world. Grubb & Ellis Equity Advisors and its investment affiliates manage a nationwide portfolio of office, industrial, retail, multifamily and healthcare-related assets valued in excess of $5.6 billion. One of the nations most active buyers and sellers of commercial real estate, Grubb & Ellis Equity Advisors and its investment affiliates have completed acquisition and disposition volume totaling more than $12 billion on behalf of investors since 1998, including more than $9 billion since Jan. 1 2005.
Grubb & Ellis Equity Advisors, LLC is the primary investment and asset management subsidiary of Grubb & Ellis Company (NYSE: GBE), one of the largest and most respected commercial real estate services and investment companies in the world. Grubb & Ellis Equity Advisors and its investment affiliates manage a nationwide portfolio of office, industrial, retail, multifamily and healthcare-related assets valued in excess of $5.6 billion. One of the nations most active buyers and sellers of commercial real estate, Grubb & Ellis Equity Advisors and its investment affiliates have completed acquisition and disposition volume totaling more than $12 billion on behalf of investors since 1998, including more than $9 billion since Jan. 1 2005.
Grubb & Ellis Equity Advisors offers a full range of commercial real estate investment vehicles,
including public non-traded real estate investment trusts (REITs), institutional investments and
separate accounts, including the Grubb & Ellis Private Client Management program. Our affiliate,
Grubb & Ellis Realty Investors, LLC, is one of the nations leading sponsors and managers of
tenant-in-common investment programs for 1031 exchanges. For more information, visit
http://equityadvisors.grubb-ellis.com.
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Forward-Looking Statements
Grubb & Ellis Equity Advisors is a wholly owned subsidiary of Grubb & Ellis Company. Certain
statements included in this press release may constitute forward-looking statements with respect to
Grubb & Ellis Healthcare REIT II, Inc., an investment program sponsored by Grubb & Ellis Company.
Because such statements include risks, uncertainties and contingencies, actual results may differ
materially from those expressed or implied by such forward-looking statements. These risks,
uncertainties and contingencies include, but are not limited to, the following: the strength and
financial condition of Grubb & Ellis Healthcare REIT II, Inc. and uncertainties relating to the
financial strength of its real estate investments; uncertainties related to its ability to continue
to maintain the current investor dividend coverage; uncertainties related to the local economies
where its real estate investments are located; uncertainties relating to changes in general
economic and real estate conditions; uncertainties regarding changes in the healthcare industry;
the uncertainties relating to the implementation of our real estate investment strategy; and other
risk factors as outlined in the Grubb & Ellis Healthcare REIT II, Inc.s prospectus, as amended
from time to time, and as detailed from time to time in the periodic reports, as filed with the
U.S. Securities and Exchange Commission by Grubb & Ellis Healthcare REIT II, Inc. Forward-looking
statements in this document speak only as of the date on which such statements were made, and we
undertake no obligation to update any such statements that may become untrue because of subsequent
events.
Grubb & Ellis Equity Advisors, LLC |
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1551 N. Tustin Ave., Suite 300 Santa Ana, California 92705
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714.667.8252 |