Grubb goes to town
HEALTHCARE REIT MAKES BUYS FOR $256M
By John Mugford
Don’t worry about whether Grubb & Ellis Healthcare REIT Inc. can wade through the current commercial lending crunch and slow economy.
The Santa Ana, Calif.-based real estate investment trust (REIT) that focuses on healthcare properties went on a bit of a buying spree in recent weeks. In fact, since late May, the REIT made nine acquisitions for a total cost of about $256 million. In total, the properties acquired have more than 1.38 million square feet of space. (We provide a closer look at the acquisitions at the end of this story.)
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