April 29, 2009 VIA EDGAR |  |
Ms. Sonia G. Barros
Special Counsel
Division of Corporation Finance
Securities and Exchange Commission
Main Filing Desk
100 F. Street, NE
Washington, DC 20549
Special Counsel
Division of Corporation Finance
Securities and Exchange Commission
Main Filing Desk
100 F. Street, NE
Washington, DC 20549
| RE: | Grubb & Ellis Apartment REIT, Inc. Post-Effective Amendment No. 13 to Form S-11 Filed April 21, 2009 File No. 333-130945 |
Dear Ms. Barros:
This letter sets forth the response of Grubb & Ellis Apartment REIT, Inc. (the “Company”) to the comment of the staff (the “Staff”) of the Securities and Exchange Commission provided orally on April 28, 2009, with regard to the above-referenced filing. For your convenience, we have set forth below the Staff’s comment by the relevant response.
Supplement No. 5 dated April 21, 2009
Information Regarding Our Distributions, pages 6-7
Comment: Please revise your disclosure to include a chart for the most recent four fiscal quarters setting forth the amount of distributions paid, the amount reinvested and the source for the payment of such distributions, including cash flow from operations.
Response: The Company will include the chart set forth below in the final version of Supplement No. 5, filed pursuant to Rule 424(b)(3), in response to the Staff’s comment.
Ms. Sonia G. Barros
April 29, 2009
Page 2
April 29, 2009
Page 2
| Three Months Ended | ||||||||||||||||
| December 31, | September 30, | June 30, | March 31, | |||||||||||||
| 2008 | 2008 | 2008 | 2008 | |||||||||||||
| Distributions paid in cash | $ | 1,363,000 | $ | 1,211,000 | $ | 1,014,000 | $ | 826,000 | ||||||||
| Distributions reinvested | 1,193,000 | 1,044,000 | 854,000 | 711,000 | ||||||||||||
| Total distributions | $ | 2,556,000 | $ | 2,255,000 | $ | 1,868,000 | $ | 1,537,000 | ||||||||
| Source of distributions: | ||||||||||||||||
| Cash flow from operations | $ | — | $ | 1,750,000 | $ | 1,445,000 | $ | — | ||||||||
| Offering proceeds | 2,556,000 | 505,000 | 423,000 | 1,537,000 | ||||||||||||
| Total sources | $ | 2,556,000 | $ | 2,255,000 | $ | 1,868,000 | $ | 1,537,000 | ||||||||
Thank you for your consideration of the Company’s response to the Staff’s comment. We appreciate your review and assistance. If you have any questions regarding this response, please do not hesitate to call the undersigned at (404) 504-7744.
Very truly yours,
MORRIS, MANNING & MARTIN, LLP
/s/ Lauren Burnham Prevost
Lauren Burnham Prevost
| cc: | Mr. Duc Dang Mr. Stanley J. Olander, Jr. Ms. Andrea R. Biller |