DANNY PROSKY IS PRESIDENT AND COO OF GRUBB’S SECOND HEALTHCARE TRUST
By John Mugford
Danny Prosky of Grubb & Ellis
HREI™ photo
It usually takes some time for a newly formed real estate investment trust (REIT) to get rolling. Back in 2006, for example, it took four months for the fledgling NNN Healthcare/Office REIT to break impounds – in other words, to raise its first $2 million from investors.
But in recent months, a newly formed healthcare REIT – which is actually a successor to the NNN Healthcare/Office REIT – broke impounds in 24 days.
The new REIT is Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT II, which is sponsored by Grubb & Ellis Co. (NYSE: GBE). The REIT was founded in early 2009 and started selling shares of its common stock last fall.
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