Jeff Hanson Named President of Grubb & Ellis Realty Investors
08 February 2008 - 3:46AM
PR Newswire (US)
SANTA ANA, Calif., Feb. 7 /PRNewswire-FirstCall/ -- Jeff Hanson has
been named President of Grubb & Ellis Realty Investors, LLC,
the investment programs subsidiary of Grubb & Ellis Company
(NYSE:GBE), one of the world's leading commercial real estate
services and investment management firms. Grubb & Ellis Realty
Investors, previously known as Triple Net Properties, LLC, is one
of the nation's leading sponsors of securitized 1031
tenant-in-common (TIC) exchange programs, multi-member limited
liability companies (LLCs), joint ventures and investment funds.
The company is the managing member of the advisor to Grubb &
Ellis Healthcare REIT, Inc. and Grubb & Ellis Apartment REIT,
Inc. "Jeff is one of the most astute professionals in the
commercial real estate industry whose integrity, judgment and
leadership skills are of the highest caliber," said Scott D.
Peters, Chief Executive Officer of Grubb & Ellis Company. "He
is an invaluable member of the executive management team of Grubb
& Ellis and an ideal choice to lead Grubb & Ellis Realty
Investors." In addition to his added responsibilities as president,
Hanson will continue to serve as chief investment officer of Grubb
& Ellis Realty Investors, a role he has filled since joining
the then-named Triple Net Properties in 2006. Prior to joining
Grubb & Ellis Realty Investors, Hanson served as a senior vice
president with Grubb & Ellis Company's Institutional Investment
Group, which he joined in 1997. Hanson's career in commercial real
estate began at CB Richard Ellis in 1996. "I am honored to serve as
president of Grubb & Ellis Realty Investors," said Hanson.
"This is a unique company that has enabled thousands of 'Main
Street' investors to participate in 'Wall Street'-caliber
investment programs. As a part of Grubb & Ellis Company, we
will expand the distribution of our investment programs and extend
the benefits of commercial real estate ownership to a larger pool
of investors." Hanson earned a bachelor's degree in business with
an emphasis in real estate finance from the University of Southern
California. He is a member of the Tenant-In-Common Association,
National Association of Industrial and Office Properties, National
Association of Real Estate Investment Trusts, Pension Real Estate
Association and The Urban Land Institute. As of Sept. 30, 2007,
Grubb & Ellis Realty Investors oversees a portfolio of assets
valued at approximately $5.4 billion located throughout 28 states
and has completed acquisition and disposition volume totaling more
than $6.8 billion between Jan. 1, 2005 and Sept. 30, 2007. Triple
Net Properties, LLC became a subsidiary of Grubb & Ellis
Company on Dec. 7, 2007, following the merger of Grubb & Ellis
and NNN Realty Advisors, Inc. It was recently renamed Grubb &
Ellis Realty Investors, LLC. About Grubb & Ellis Grubb &
Ellis Company (NYSE:GBE) is one of the largest and most respected
commercial real estate services companies. With more than 130 owned
and affiliate offices worldwide, Grubb & Ellis offers property
owners, corporate occupants and investors comprehensive integrated
real estate solutions, including transaction, management,
consulting and investment advisory services supported by
proprietary market research and extensive local market expertise.
Grubb & Ellis and its subsidiaries are leading sponsors of real
estate investment programs that provide individuals and
institutions the opportunity to invest in a broad range of real
estate investment vehicles, including tax-deferred 1031
tenant-in-common (TIC) exchanges; public non-traded real estate
investment trusts (REITs) and real estate investment funds. As of
September 30, 2007, nearly $3 billion in investor equity has been
raised for these investment programs. The company and its
subsidiaries currently manage a growing portfolio of more than 214
million square feet of real estate. In 2007, Grubb & Ellis was
selected from among 15,000 vendors as Microsoft Corporation's
Vendor of the Year. For more information regarding Grubb &
Ellis Company, please visit http://www.grubb-ellis.com/.
FORWARD-LOOKING LANGUAGE This press release contains
"forward-looking statements" within the meaning of Private
Securities Litigation Reform Act of 1995. Any statement in this
press release about expectations, beliefs, plans, objectives,
assumptions or future events or performance are not historical
facts and are forward-looking statements. Any forward-looking
statements are based upon the current beliefs and expectations of
management and involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance,
achievements or transactions of the company and its affiliates to
be materially different from any future results, performance,
achievements or transactions expressed or implied by such
forward-looking statements. The following factors, among others,
could cause actual results to differ materially from the
anticipated results or other expectations expressed in the
forward-looking statements: changes in the company's results of
operations; uncertainties relating to the implementation of the
company's real estate investment and asset management strategies;
changes in general and local economic and real estate conditions;
the inability to combine the businesses of NNN Realty Advisors and
Grubb & Ellis successfully, or that such combination may take
longer, be more difficult, time-consuming or costly to accomplish
than expected; and increased operating costs and business
disruption following the merger of NNN Realty Advisors and Grubb
& Ellis, including adverse effects on employee retention and on
business relationships with third parties. Additional information
or factors which could impact the company and the forward-looking
statements contained herein are included in Grubb & Ellis'
filings with the Securities and Exchange Commission, including but
not limited to the joint proxy statement/prospectus of Grubb &
Ellis and NNN Realty Advisors. Any forward-looking statements speak
only as of the date on which they are made and the company assumes
no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events. DATASOURCE: Grubb
& Ellis Company CONTACT: Janice McDill, +1-312-698-6707, , or
Jill Swartz, +1-714-667-8252, ext. 251, , both of Grubb & Ellis
Company Web site: http://www.grubb-ellis.com/ Company News On-Call:
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