Santa Ana-based Grubb & Ellis Co. is looking to raise more than $3 billion to buy healthcare-related real estate through a new fund.
The real estate brokerage and investor this month announced plans to launch Grubb & Ellis Healthcare REIT II Inc., a real estate investment trust that is raising money from investors but won’t trade on a stock exchange.
A registration statement was filed March 19 with the Securities and Exchange Commission.
The fund, which will be run out of Santa Ana, plans to pool money from individual investors to buy medical office buildings and other healthcare properties across the U.S.
It’ll be the third real estate investment fund that Grubb & Ellis has launched in the past three years.
Another healthcare-focused REIT has raised about $857 million through February. A fund that targets apartments has raised about $150 million through the end of 2008.
Both were launched by NNN Realty Ad-visors Inc., the real estate investment company that acquired then Chicago-based Grubb & Ellis in late 2007 and kept the better known Grubb name.
For more on this story, read the March 30 issue of the Business Journal.
