SANTA ANA, Calif., July 11 /PRNewswire-FirstCall/ -- Grubb & Ellis
Company (NYSE: GBE), a leading real estate services and investment firm,
today announced that Devin I. Murphy, a 22-year finance and real estate
investment banking veteran, has been elected as a member of its Board of
Directors, effective immediately.
Murphy is a Managing Partner of Coventry Real Estate Advisors, a real
estate private equity firm which sponsors a series of opportunistic
institutional investment funds that acquire and develop retail and
mixed-used properties. Prior to joining Coventry earlier this year, he was
the Global Head of Real Estate Investment Banking at Deutsche Bank
Securities, Inc., from 2004 to 2007. Earlier, he spent 14 years at Morgan
Stanley & Company in a variety of real estate and investment banking roles,
including as Co-Head North American Investment Banking and Global Head of
the firm's Real Estate Private Capital Market Group.
Murphy will serve as an independent, non-executive Director on the
Grubb & Ellis Board.
Glenn L. Carpenter, Chairman of the Grubb & Ellis Board of Directors,
said, "Over the past four months, the Board conducted an extensive and
thorough search to fill this vacant board position. Devin is a world-class
executive who brings both extensive real estate and financial experience,
and he will complement the expertise of our existing Board. We couldn't be
more pleased that he has agreed to join our Board."
Murphy is filling the vacancy created by the resignation of a Board
member in February of this year. His appointment brings the Grubb & Ellis
Board of Directors to eight, leaving one vacant position, which will be
filled at which time the Company appoints a new Chief Executive Officer.
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 March 31, 2008, more than $3.4 billion in investor equity has
been raised for these investment programs. The company and its subsidiaries
currently manage a growing portfolio of more than 218 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.
SOURCE Grubb & Ellis Company
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Related links:
http://www.grubb-ellis.com
http://www.prnewswire.com/comp/136726.html/
CONTACT:
Janice McDill of Grubb & Ellis Company,
+1-312-698-6707, janice.mcdill@grubb-ellis.com
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