RIP Grubb & Ellis

Investment News reported that Grubb & Ellis had sold most of its operating assets and filed for bankruptcy protection.  Thus ends the the ill-timed and ill-fated story of the entry by one of the country's premier commercial real estate brokerage firms into the syndication business.  The beginning of the end began with the merger of Grubb & Ellis with Triple Net Properties just as investment real estate was starting its descent.  The exodus of senior management from the syndication operations, the the emancipation of Health Care Trust of America crippled the company.  The announcement that Grubb & Ellis Healthcare REIT II replaced Grubb & Ellis as advisor and underwriter signaled that the end was near.