3/31/2008

Grubb & Ellis invests $14M in its Healthcare REIT

by
Grubb & Ellis Realty Investors, LLC, on behalf of its Healthcare REIT, has purchased two medical buildings in Indianapolis, Ind., and Liberty Township, Ohio for a combined price of $14 million.

In Liberty Township, Grubb & Ellis acquired the newly-constructed Liberty Falls Medical Plaza for $8.15 million from Liberty Falls, LLC. The building is located at 6770 Cincinnati-Dayton Rd. and contains 44,000 square feet. It is currently 91 percent leased. Financing for the acquisition was provided by LaSalle Bank and KeyBank.

In Indianapolis, the firm purchased the Epler Parke Building B from Epler Parke, LLC for $5.85 million. Built in 2004, the building is located at 5550 South East Rd. and contains 34,000 square feet. The single-story multi-tenant building is currently 95 percent leased.

Grubb & Ellis Realty Investors has made several purchases for its Healthcare REIT, including the Fort Road Medical Building in St. Paul, the Medical Portfolio 1 in Florida and Kansas and the Highlands Ranch Healthcare Plaza in Highlands Ranch, Colo.

Address: Liberty Falls Medical Plaza at 6770 Cincinnati-Dayton Rd., Liberty Township, Ohio
- Epler Parke Building B at 5550 South East Rd., Indianapolis, Ind.

Size: 78,000 square feet

Built: 2008, 2004

---

Filed Under: Office

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009