Grubb & Ellis Realty sets record date for liquidation distribution

By Lisa Kerner

Charlotte, N.C., April 8 - Grubb & Ellis Realty Advisors, Inc. set April 17 as the record date for stockholders entitled to receive liquidating distributions under the company's planned dissolution.

The company expects to make a first and final liquidating distribution on April 18.

Shareholders are set to vote on the plan of liquidation at a special meeting on April 14, according to a company news release.

The plan calls for Grubb & Ellis to return the amount held in trust, together with interest (net of applicable taxes), to current holders of common shares originally issued in the company's initial public offering, the release stated.

Grubb & Ellis, a Chicago-based commercial real estate company, said its share transfer books will be closed on April 17 and trading of the company's shares on the American Stock Exchange will be suspended that day.

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