PURCHASE AGREEMENT AND ESCROW INSTRUCTIONSPurchase Agreement and Escrow Instructions • February 3rd, 2010 • Grubb & Ellis Healthcare REIT II, Inc. • Real estate investment trusts • Ohio
Contract Type FiledFebruary 3rd, 2010 Company Industry JurisdictionTHIS PURCHASE AGREEMENT (the “Agreement”) is made effective as of the date of last execution of this Agreement (the “Effective Date”), by and among G&E HC REIT II PARKWAY MEDICAL CENTER, LLC, a Delaware limited liability company, its successors and assigns (“Buyer”), whose address is 1551 North Tustin Avenue, Suite 200, Santa Ana, California 92705, and PARKWAY MEDICAL CENTER, LLC, an Ohio limited liability company (“Seller”), whose address is 25550 Chagrin Boulevard, Suite 300, Beachwood, Ohio 44122.1. Property. In consideration of the Purchase Price (defined below) and upon the terms and conditions contained in this Agreement, Seller agrees to sell, convey and assign to Buyer, and Buyer agrees to purchase from Seller the land (“Land”) located at 3609 and 3619 Park East Drive, Beachwood, Ohio 44122 (and known as Parkway Medical Center), and known as permanent parcel number 742-29-014, with office buildings containing approximately 88,000 square feet (collectively, “Building”), together