The funds "may be used for general corporate purposes, including the refinancing of the company's existing credit facility," according to the statement. A spokeswoman tells GlobeSt.com she could not provide more information regarding how the funds would be used or interest rates for the financing.

Both firms will both hold meetings on Dec. 6 for shareholders to approve the merger, which is expected to close a few days after the vote. The Securities and Exchange Commission recently declared effective the registration statement for the merger of the two companies, giving them the go-ahead to mail out proxy statements and have shareholders vote on the merger, as previously reported by GlobeSt.com.

The newly formed company will have a total capitalization of $725 million. The merger was previously approved by the board of directors from both companies. NNN Realty Advisors, the parent company of Triple Net Properties (the sponsor of funds and REITs), Triple Net Properties Inc. (the brokerage company) and NNN Capital Corp. (the broker/dealer), will now operate using the Grubb & Ellis name and will operate out of Santa Ana. Scott D. Peters, president and CEO of NNN, will join the Grubb & Ellis board and will become CEO of the combined firm.

The deal will occur through the issuance of 0.88 shares of Grubb & Ellis common stock for each share of NNN common stock outstanding. NNN Realty Advisors currently manages a commercial real estate portfolio valued at approximately $5 billion.