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Industry Pulse: November 2011

NEWPORT BEACH, Calif. – There’s a new name among the companies actively involved in acquiring healthcare real estate, a sector that has seen quite a number of mergers and acquisitions among its leading companies in recent years. In this case, the independent members of the board of Grubb & Ellis Healthcare REIT II, an active buyer of medical properties during the past two years, elected to leave the sponsorship of Santa Ana, Calif.-based Grubb & Ellis Co. (NYSE: GBE). Instead, the unlisted real estate investment trust (REIT) will be co-sponsored by Newport Beach, Calif.-based American Healthcare Investors LLC, a new company, and Los Angeles-based Griffin Capital Corp. The REIT will be renamed Griffin-American Healthcare Trust Inc.

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