Grubb & Ellis Apartment REIT Agrees to Acquire Nine Properties and Property Management Business for $182 Million

SANTA ANA, Calif. - August 30, 2010 - (RealEstateRama) -- Grubb & Ellis Apartment REIT, Inc. today announced that it has entered into definitive agreements totaling $182 million to acquire nine multifamily properties from affiliates of MR Holdings, LLC and substantially all of the assets of Mission Residential Management, LLC, the Mission Residential property management business.

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