Greenville Hospital System selling buildings for $161 Million

The State, Columbia, S.C.

July 16, 2009

Jul. 16--A California investment firm will buy 16 buildings from Greenville Hospital System for $161.6 million.

Grubb & Ellis Healthcare REIT Inc. is buying about 855,000 square feet of office space on or near to four Greenville's hospital campuses.

Greenville Hospital System will continue to occupy almost all of the space under a long-term lease agreement.

"It provides us with high quality performing assets, and in addition provides us with the opportunity to develop and/or acquire additional medical buildings as Greenville expands its first class health system," Scott Peters, chief executive officer and president of the REIT, said in a statement.

Grubb & Ellis Healthcare REIT said it owns 119 medical office buildings, four hospitals, 12 skilled nursing- and assisted-living facilities and three other office buildings in 19 states.

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