Grubb & Ellis Realty Advisors, Inc. Announces Liquidation Distribution
April 18 2008 - 12:59PM
PR Newswire (US)
CHICAGO, April 18 /PRNewswire-FirstCall/ -- Grubb & Ellis
Realty Advisors, Inc. (AMEX:GAVAMEX:GAV.WS) announced today that it
will make a first and final liquidating distribution of $6.08929094
per share to holders of record on April 17, 2008. The distribution
is being made today. No payments will be made in respect of the
Company's outstanding warrants or to any of the Company's initial
stockholders with respect to the shares owned by them prior to the
initial public offering. As previously announced, on April 14, the
Company's stockholders voted to approve the dissolution of the
Company and its proposed plan of liquidation. This approval was a
necessary condition to the Company distributing its net assets to
holders of common shares issued in its initial public offering. The
Company will also begin the process of delisting its securities
from the American Stock Exchange and deregistering from the
Securities Exchange Commission. Grubb & Ellis Realty Advisors
is a special purpose acquisition company established in September
2005 for the purpose of acquiring office and industrial commercial
real estate assets in suburban, secondary and tertiary markets.
DATASOURCE: Grubb & Ellis Realty Advisors, Inc. CONTACT:
Richard W. Pehlke, Chief Financial Officer of Grubb & Ellis
Realty Advisors, Inc., +1-312-698-6711; or Janice McDill of Grubb
& Ellis, +1-312-698-6707, Web site: http://www.grubb-ellis.com/
Company News On-Call: http://www.prnewswire.com/comp/136726.html
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