SANTA ANA, CA-Grubb & Ellis Healthcare REIT II has agreed to buy eight buildings across the country for $112 million. The new assets under contract are part of an aggressive buying spree by the non-traded REIT.

If those sales reach completion, the REIT will own 73 buildings worth $710 million based on purchase price.

Located in Arizona, California, Florida, Georgia, South Carolina, Texas and Washington, the eight medical office buildings contain a total 451,000 square feet. Previously, the healthcare REIT said it had agreed to pay $166.5-million for the Southeastern Skilled Nursing Facility Portfolio, boosting the value of buildings under contract to $278 million.

As of Nov. 4, 2011, Grubb & Ellis Healthcare REIT II has sold about 42.65 million shares of its common stock for about $425.6 million, and plans to buy up to $3 billion in medical real estate.

The REIT currently owns 55 buildings worth $430.8 million, based on purchase price. The vacancy rate for the entire medical building portfolio is 3%, and the average lease in those buildings has a remaining term of 10 years.  The REIT holds leverage of 25.6% on the portfolio.

As announced earlier, Grubb & Ellis is currently “transitioning” the sponsorship of the REIT to a co-sponsorship of  American Healthcare Investors, LLC and Griffin Capital Corp.  The company will be renamed Griffin-American Healthcare REIT II Inc. The transition is expected to be complete in January.