Santa Ana, CANNN Realty AdvisorsIncGrubb & Ellis Co

When the all-stock transaction is complete and NNN Realtyshareholders have received .88 of a Grubb & Ellis share inexchange for each NNN Realty share, they will account for about 59%of the company's ownership. The deal not only adds to the existingGrubb & Ellis operation, NNN's: Triple Net Properties LLC (itsTIC, REIT and fund investment sponsor platform), Triple NetProperties Realty Inc. (its property brokerage entity) and NNNCapital Corp. (its broker-dealer), it also will put NNN leadershipdecidedly at the helm of the new company.

As part of the transaction, announced last month and expected toclose in the third or fourth quarter, Scott Peters, NNN Realtypresident and CEO, will become CEO of Grubb & Ellis, replacingcurrent CEO Mark Rose. Anthony W. Thompson, the founder andchairman of NNN Realty, will become chairman of the Grubb &Ellis board, replacing current chairman C. Michael Kojaian, whowill remain as a board member. The board will be expanded to ninemembers, including six nominees from NNN Realty. The company willcontinue to operate under the Grubb & Ellis name and trade onits NYSE ticker, but will move its headquarters to NNN Realty'sSanta Ana, CA offices.