Grubb & Ellis, NNN Realty set meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Nov. 5 - Grubb & Ellis Co. stockholders and NNN Realty Advisors, Inc. shareholders will vote on a merger of the two companies at separate meetings on Dec. 6, according to a form 424B2 filing with the Securities and Exchange Commission.

Under the merger agreement, 0.88 of a share of Grubb & Ellis common stock will be issued for each share of NNN Realty Advisors common stock outstanding.

The companies' boards of directors approved the deal in May to create a real estate services company with a total capitalization of approximately $725 million.

It was previously reported that the company will retain the Grubb & Ellis name and will continue to be listed on the New York Stock Exchange under the ticker symbol "GBE." Scott D. Peters, chief executive officer and president of NNN Realty Advisors, will become CEO of the newly combined company.

NNN Realty Advisors is a privately held real estate company located in Santa Ana, Calif. Grubb & Ellis is a Chicago-based commercial real estate company.

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