FORM OF PARTICIPATING BROKER-DEALER AGREEMENT GRUBB & ELLIS SECURITIES, INC. a California corporation, Santa Ana, California PARTICIPATING BROKER-DEALER AGREEMENT For Shares of Common Stock Offered By GRUBB & ELLIS APARTMENT REIT, INC.Participating Broker-Dealer Agreement • March 6th, 2008 • Grubb & Ellis Apartment REIT, Inc. • Real estate investment trusts • California
The undersigned, Grubb & Ellis Securities, Inc., a California corporation (the “Dealer Manager”), has entered into a Dealer-Manager Agreement dated July 19, 2006 (the “Selling Agreement”) with GRUBB & ELLIS APARTMENT REIT, INC., a Maryland corporation (the “Company”), with respect to the offer and sale of up to 100,000,000 shares of common stock of the Company (the “Shares”). The terms of the offering (the “Offering”) are set forth in the Company’s Prospectus dated December 19, 2007 (with all exhibits, appendices, addenda and supplements thereto, collectively the “Prospectus”).
