(Mark your calendars: RealShare Orange County, Aug. 18th in Newport Beach, CA)

SANTA ANA, CA-Grubb & Ellis Co. has sold its Daymark Realty Advisors subsidiary to buyers in New York City and San Diego, exiting the tenant-in-common business that it entered as part of the company’s 2007 merger with NNN Realty Advisors. The buyer is a joint venture entity controlled by San Diego-based Sovereign Capital Management Group and New York City-based Infinity Urban Century, an investment affiliate of The Infinity Group.

Grubb formed Daymark in February as a wholly owned and separately managed subsidiary responsible for the management of its tenant-in-common portfolio. The subsidiary oversees a nationwide portfolio of commercial property totaling approximately 33 million square feet, including more than 8,700 multifamily units.