NEWPORT BEACH, CA-The company formerly known as Grubb & Ellis Healthcare REIT II has received a crucial approval from federal regulators to change the sponsorship of the healthcare REIT from Grubb & Ellis to a group led by Griffin Capital Securities.
Griffin says it has received a “no objections” letter from the Financial Industry Regulatory Authority, known as FINRA. Essentially, the document says that FINRA will not oppose the sponsorship changes to the REIT, now known as Griffin-American Healthcare REIT II Inc.
“This is the key approval that we needed,” says a Griffin-American spokesperson. “This was the hardest one to get, so it’s very good news.”
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