Grubb & Ellis Healthcare REIT II said it has elected to extend the company’s initial public offering of shares of its common stock another year and is scheduled to terminate 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.
Grubb & Ellis Healthcare REIT II is seeking to raise up to approximately $3 billion in equity and to acquire a diversified portfolio of real estate assets, focusing primarily on medical office buildings and other healthcare-related facilities.