SANTA ANA, Calif., Sept. 17 /PRNewswire-FirstCall/ -- Grubb & Ellis
Company (NYSE: GBE), a leading real estate services and investment firm,
announced today that Michael J. Rispoli, currently the Company's Senior
Vice President, Strategic Planning and Investor Relations, has been
promoted to Chief Financial Officer of Grubb & Ellis Realty Investors, LLC,
the Company's investment subsidiary. He succeeds Francene LaPoint, who has
resigned effective October 3, 2008 as Executive Vice President, Accounting
and Finance of Grubb & Ellis Company and Chief Financial Officer of Grubb &
Ellis Realty Investors.
Prior to her departure, LaPoint will work closely with Rispoli to
ensure a smooth transition of responsibilities.
"Francene has played an important role in the growth of our investment
business, first as NNN Realty Advisors and now as part of Grubb & Ellis. We
want to thank Francene for her many contributions and we wish her continued
success in her future endeavors," said Richard W. Pehlke, Executive Vice
President and Chief Financial Officer of Grubb & Ellis Company. "I have
every confidence that Mike Rispoli, with whom I have worked with closely
since the closing of the merger in December 2007, is the right person for
this role. This promotion recognizes Mike's contributions to Grubb & Ellis
over the past 10 months as well as his extensive financial and public
company experience."
Rispoli, 36, will retain his title as Senior Vice President, Strategic
Planning and Investor Realtions. As Chief Financial Officer, he will also
now have responsibility for all aspects of Grubb & Ellis Realty Investors'
finance functions including, accounting, financial planning and analysis,
treasury and audit.
Rispoli joined NNN Realty Advisors in May 2007 prior to its merger with
the Company in December 2007. Since the merger, he has been an important
member of the finance team, having played a key role in investor and
banking relations, strategic planning and merger integration efforts.
From 2004 to 2007, Rispoli was Executive Director and Corporate
Controller of Conexant Systems, a publicly traded semiconductor company
with $1 billion in annual revenue. Earlier, he spent two years as Assistant
Controller of GlobespanVirata, Inc., which merged with Conexant in February
2004. He began his career as Manager of Audit and Business Assurance
Services at PricewaterhouseCoopers LLP in 1993. A Certified Public
Accountant, Rispoli holds a bachelor's degree from Seton Hall University.
LaPoint, 43, joined the Company in 2004 as Senior Vice President and
Corporate Controller of Triple Net Properties, the predecessor firm to NNN
Realty Advisors. She was instrumental in positioning Triple Net Properties
for the Company's 144A private equity offering in 2006, at which time she
was promoted to Chief Financial Officer of NNN Realty Advisors.
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 June 30, 2008, more than $3.6 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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CONTACT:
Janice McDill of Grubb & Ellis Company,
+1-312-698-6707, janice.mcdill@grubb-ellis.com
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