Triple Net Properties became a subsidiary of the company as partof the Decembermerger, in which Grubb & Ellis also relocated itsheadquarters to Santa Ana. Peters notes that the newly namedsubsidiary is one of the nation's leading sponsors oftenant-in-common programs, multi-member limited liabilitycompanies, joint ventures and investment funds. The company is themanaging member of and the adviser to Grubb & Ellis HealthcareREIT Inc. and Grubb & Ellis Apartment REIT Inc., both of whichalso converted to the new name after the merger.

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Grubb & Ellis Realty Investors oversees a portfolio ofassets valued at approximately $5.4 billion located throughout 28states, according to figures as of Sept. 30. The company is one ofthe most active buyers and sellers of commercial real estate in theUS, having executed acquisition and disposition volume totalingmore than $6.8 billion between Jan. 1, 2005 and Sept. 30, 2007.

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The renaming of Grubb & Ellis Realty Investors underscoresthe significance that the merged company places on the 50-yearhistory of Grubb & Ellis. Executives and guests from thecompany, for example, rang the Closing Bell at the New York StockExchange one day in January to start a year-long observance ofGrubb & Ellis' 50th anniversary.

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Grubb & Ellis Realty Investors, which began in 1998 underthe Triple Net name, has raised nearly $3 billion in equity fromapproximately 35,000 individual investors. It was founded by TonyThompson, a tenant-in-common pioneer who became chairman of themerged firm but has resignedthat post, effective Feb. 8, remaining the second-largestshareholder in the merged company.

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