Feature News

SANTA ANA, Calif., Nov. 19 /PRNewswire-FirstCall/ -- Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has formed the Financial Services Asset Management Practice designed to provide critical services to financial institutions, special servicers and government agencies dealing with challenged real estate and mortgage assets.

"The current environment is placing significant stress on a variety of our clients who are managing real estate debt as collateral values are challenged and recapitalization options shrink," said Glen Esnard, president of Grubb & Ellis Capital Markets Group. "Our firm is uniquely positioned to support their efforts to manage the workout, foreclosure, restructuring, asset management and disposition processes, adapting to the unique demands of the broad array of clients, from owners to small community banks as well as the largest institutions and servicers."

The practice group is being co-led by Frank Mancini, executive managing director, in New York and Conrad Andersen, senior vice president, global client solutions in Newport Beach, Calif. It draws from Grubb & Ellis' entire pool of resources to provide lenders and servicers a comprehensive assessment of collateral quality and performance and to both develop and execute strategies designed to maximize value recovery.

"Our strength lies in our experienced practice leadership, which has both investment bank and major financial institution REO experience as well as our deep on-the-ground network and our ability to align our broad array of services to specific client requirements," Esnard said.

Specific services include receivership, property management, construction management, asset due-diligence, lease administration, valuation transaction management and capital markets execution.

For more information on Grubb & Ellis' Financial Services Asset Management Practice, please contact Glen Esnard at glen.esnard@grubb-ellis.com or 714.975.2234.

About Grubb & Ellis

Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise.

Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges, public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2008, more than $3.8 billion in investor equity has been raised for these investment programs. The Company and its subsidiaries currently manage a growing portfolio of more than 225 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit http://www.grubb-ellis.com.