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CHICAGO-Stockholders for Grubb & Ellis Realty Advisors Inc., based here, will vote next month on whether to acquire a three-property portfolio from Grubb & Ellis Co. for approximately $122.3 million, plus costs, expenses and imputed interest. The vote is scheduled for Feb. 28. All people who are stockholders as of Jan. 28 will be able to vote on Feb. 28.

The three properties are Danbury Center in Danbury, CT; Abrams Centre in Dallas and 6400 Shafer Ct. in Rosemont, IL. Grubb & Ellis acquired last year the 180,000-sf office building in Rosemont for $21.5 million, the 1.1-million-sf Danbury Corporate Center for $86 million and the Abrams Centre for $20 million. The three properties have a high enough aggregate value for Realty Advisors’ business combination, which has to be equal to $110 million in assets, a spokeswoman tells GlobeSt.com.

Grubb & Ellis Realty Advisors, formed in September 2005, is a special purpose acquisition corporation that will purchase primarily industrial and office properties. Part of the company’s strategy is to acquire undervalued properties, reposition them and sell them for a profit, the spokeswoman says.

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