CHICAGO, April 18 /PRNewswire-FirstCall/ -- Grubb & Ellis Realty
Advisors, Inc. (Amex: GAV, GAV.WS) announced today that it will make a
first and final liquidating distribution of $6.08929094 per share to
holders of record on April 17, 2008. The distribution is being made today.
No payments will be made in respect of the Company's outstanding
warrants or to any of the Company's initial stockholders with respect to
the shares owned by them prior to the initial public offering.
As previously announced, on April 14, the Company's stockholders voted
to approve the dissolution of the Company and its proposed plan of
liquidation. This approval was a necessary condition to the Company
distributing its net assets to holders of common shares issued in its
initial public offering.
The Company will also begin the process of delisting its securities
from the American Stock Exchange and deregistering from the Securities
Exchange Commission.
Grubb & Ellis Realty Advisors is a special purpose acquisition company
established in September 2005 for the purpose of acquiring office and
industrial commercial real estate assets in suburban, secondary and
tertiary markets.
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Source: Real Estate Newswire
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