FIRST QUARTER INVESTOR UPDATE 2008 Q1 Grubb & Ellis Healthcare REIT, Inc. has enjoyed a number of accomplishments since its offering began in September 2006. This update will provide you with detailed information regarding the activity of the REIT during the first quarter of 2008 so that you may be informed on its progress. FIRST QUARTER ACCOMPLISHMENTS · Closed seven acquisitions, valued at more than $106 million, based on purchase price. · Currently own a diversified portfolio of healthcare real estate assets including medical office buildings, hospitals, nursing homes and assisted living facilities. · Grubb & Ellis Healthcare REIT continues to obtain attractive debt, despite the difficult credit market. FIRST QUARTER ACQUISITIONS Medical Portfolio 1, Florida and Kansas Read more about this property on the reverse side. Fort Road Medical Building, St. Paul, MN This building consists of approximately 50,000 square feet of gross leasable area, is connected to nearby hospitals and medical offices by a series of underground tunnels, and is 97 percent leased. Liberty Falls Medical Center, Liberty Township, OH Located in a Cincinnati suburb, this property consists of four buildings totaling approximately 44,000 square feet of gross leasable area that is 91 percent leased. Epler Parke Building B, Indianapolis, IN A single-story multi-tenant building with approximately 34,000 square feet of gross leasable area and is 95 percent leased. Cypress Station Medical Office Building, Houston, TX This three-story building has approximately 52,000 square feet of gross leasable area and is 100 percent leased. Vista Professional Center, Lakeland, FL Comprised of four identical buildings with approximately 32,000 square feet of gross leasable area. This property is 89 percent leased. Senior Care Portfolio 1, Texas The Texas properties of Senior Care Portfolio 1 consist of four buildings totalling approximately 155,000 square feet of gross leasable area and are 100 percent leased. CEO FROM THE OF GRUBB & ELLIS COMPANY Our goal has always been to provide you with the best real estate investment product the industry has to offer, and we believe that the merger between Grubb & Ellis Company and NNN Realty Advisors has given us the opportunity to reach this important objective. Grubb & Ellis Company is the sponsor of Grubb & Ellis Healthcare REIT, Inc. As such, the REIT benefits from the local market knowledge of 1,800 brokerage professionals located in more than 100 markets, some of the most respected market research in the industry and the same world-class property management organization that was selected as Microsoft’s Vendor of the Year in 2007. We thank you for the confidence and support you have placed in Grubb & Ellis Healthcare REIT, and we look forward to using our expanded platform to better serve your needs. Scott D. Peters President and Chief Executive Officer Grubb & Ellis Company, sponsor of Grubb & Ellis Healthcare REIT, Inc. Mr. Peters is also the Chairman, President and CEO of Grubb & Ellis Healthcare REIT, Inc. |