Grubb & Ellis Healthcare REIT II Acquires Maxfield Medical Office Building in Sarasota, Florida

Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired Maxfield Medical Office Building, a three-story, 41,000-square-foot, multi-tenant medical office building on the campus of Doctors Hospital of Sarasota. Located at 5831 Bee Ridge Road, Maxfield Medical Office Building is adjacent to the 168-bed Doctors Hospital, a short-term acute care facility that is a member of Hospital Corporation of America, the nation's largest for-profit hospital operator. "When evaluating medical office buildings for potential acquisition, we look for a facility that is on the campus of a thriving medical center that is owned and operated by the industry's best practitioners," said Danny Prosky, president and chief operating officer of Grubb & Ellis Healthcare REIT II. "Maxfield Medical Office Building fit our selection criteria to a tee and is an excellent addition to our rapidly growing portfolio of clinical healthcare properties." Built in 2001, the property is 91 percent leased to six tenants that provide a variety of medical services, including: orthopedic surgery, neurosurgery and spine services, internal medicine, primary care, rehabilitation and home health services. Half of the tenants are affiliated with both Doctors Hospital of Sarasota and nearby Sarasota Memorial Hospital, an 805-bed community hospital located approximately six-and-a-half miles from Maxfield Medical Office Building.