Grubb & Ellis Healthcare REIT II Extends Initial Public Offering
Grubb & Ellis (NYSE:GBE)
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Today : Tuesday 7 June 2011
Grubb & Ellis Healthcare REIT II, Inc. today announced that its board of directors has elected to extend the company's initial public offering of shares of its common stock, in accordance with terms established in its prospectus. The company's initial public offering, which was scheduled to terminate on Aug. 24, 2011, will now continue through Aug. 24, 2012. The company also announced today that it has renewed its advisory agreement and dealer manager agreement with subsidiaries of its sponsor, Grubb & Ellis Company.
As of May 31, 2011, Grubb & Ellis Healthcare REIT II has sold approximately 26.3 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $262,806,000 through its initial public offering, which began at the end of the third quarter of 2009.
To date, the company has made 21 geographically diverse acquisitions comprised of 48 buildings valued at approximately $336 million, based on purchase price in the aggregate.
