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.