Exhibit 99.1

2007 YEAR            END UPDATE As we enter 2008, it is a good time to review the accomplishments of Grubb & Ellis Apartment REIT in 2007. Not only did we end the year raising more than eight percent of the offering, Grubb & Ellis Apartment REIT is now established as the only public non-traded real estate investment trust that focuses on the fast-growing apartment industry sector. As of 12/31/07, Grubb & Ellis Apartment REIT has acquired nine properties representing a total of 2,300 units with an average occupancy rate of 95 percent. Demand continues to be high in both existing and potential markets as we continue on our path of diversification in growing apartment regions in the country. The REIT is also well positioned for 2008 with a bigger brand name—Grubb & Ellis Apartment REIT, Inc. By adding one of the most recognizable names in the industry, Apartment REIT now enjoys increased awareness in the real estate market. Grubb & Ellis Apartment REIT 2007 Accomplishments: of 95 percent at year end the best apartment markets in the country Apartment REIT, giving us national brand name recognition of Grubb & Ellis Company It’s official! On December 7, 2007, the merger between Grubb & Ellis Company and NNN Realty Advisors, Inc. was completed. This exciting event combines one of the largest and most recognized commercial real estate services providers with one of the most innovative and successful sponsors of real estate investment programs. As the new Grubb & Ellis celebrates its 50th Anniversary in 2008, our organization is well situated with the resources, vision and leadership to excel as a premier full-service commercial real estate services and investment firm in the industry. We thank you for your continued trust and confidence in Grubb & Ellis Apartment REIT, Inc. Scott D. Peters and Director, Grubb & Ellis Company Stanley J. Olander, Jr. Grubb & Ellis Apartment REIT, Inc.

Lyle Lansdell, Senior Vice President — Multifamily Grubb & Ellis Realty Investors, LLC Lyle Lansdell is responsible for establishing and managing a nationwide multifamily property management platform. Prior to joining Grubb & Ellis Realty Investors, Lansdell served 12 years as president of LTL Investments, a full-service multifamily investment company in Laguna Hills, California. He has an extensive background in 3nancial development, property development, and asset management. Lansdell earned his bachelor’s degree in economics from Pomona College in Claremont, California. Grubb & Ellis Residential Management, Inc. for Grubb & Ellis Company and Potential Bene3ts for Grubb & Ellis Apartment REIT By Lyle Lansdell In July 2007 Grubb & Ellis Company embarked on a new initiative to form a multifamily management platform, Grubb & Ellis Residential Management, Inc. Led by a team of talented professionals, management of the new entity has extensive experience in multifamily management. The company will seek to leverage this experience to provide programs, including Grubb & Ellis Apartment REIT. As a result of the formation of the new management company, the REIT can take advantage of the bene3ts of this new company rather than simply outsourcing property management to third parties outside of Grubb & Ellis. Grubb & Ellis Apartment REIT management believes this can be very bene3cial to REIT investors by virtue of receiving more current and hands-on operating information on which to make management decisions, as well as operational savings from national purchasing power negotiated by Grubb & Ellis Residential Management for the bene3t of all Grubb & Ellis investment programs. The formation of the multifamily property management company is a natural progression the Grubb & Ellis multifamily portfolio has grown to more than 11,000 apartment units throughout the country, which includes approximately 8,700 units in tenant-in-common programs and 2,300 units in Grubb & Ellis Apartment REIT. This size gives the multifamily division the ability to take advantage of bulk purchasing power and economies of scale commitment to the growth of this sector, Grubb & Ellis has been able to recruit talented REIT are the same, Grubb & Ellis Apartment REIT management feels that a Grubb & Ellis- Formation of the new company does not necessarily mean that Grubb & Ellis Residential Management will manage all of Grubb & Ellis Apartment REIT’s properties. As the REIT management team continues to look for the best opportunities in growth markets across the country, they will remain cognizant of their responsibility to seek to maximize stockholder value. Thus, if another property management company has an overall competitive advantage, then property management responsibilities would be awarded to that firm. As Grubb & Ellis continues to develop its national multifamily platform and management company, we are committed to providing the same level of professional management services that earned Grubb & Ellis Company Microsoft Corporation’s 2007 Vendor of the Year Award.

Grubb & Ellis Apartment REIT Portfolio Walker Ranch Baypoint Resort Apartment Homes Corpus Christi, TX San Antonio, TX Square Feet: 338,000 Square Feet: 285,000 Acquired: August 2007
Acquired: October 2006 Hidden Lake Apartment Homes Villas of El Dorado San Antonio, TX McKinney, TX Square Feet: 304,000 Square Feet: 193,000 Acquired: December 2006 Acquired: November 2007 Park at Northgate The Heights at Spring, TX Olde Towne Square Feet: 231,000 Portsmouth, VA Acquired: June 2007 Square Feet: 118,000
Acquired: December 2007 Residences at The Myrtles at Braemar Olde Towne Charlotte, NC Portsmouth, VA Square Feet: 170,000 Square Feet: 222,000 Acquired: June 2007 Acquired: December 2007 Towne Crossing Apartments Mansfield, TX Square Feet: 232,000 Acquired: August 2007

2007 INVESTOR UPDATE Encouraging Words on the Debt Market Gus G. Remppies Executive Vice President and Chief Investment Officer, Grubb & Ellis Apartment REIT, Inc. Let’s begin with the most important point: the turmoil in the single-family housing debt markets has enabled Grubb & Ellis Apartment REIT to continue to prosper. That’s because the PROPERTY HIGHLIGHT fundamentals of our business remain strong. The Myrtles at In virtually every major metropolitan market in the country, demand for Olde Towne multifamily housing is out-stripping this credit crunch, we believe the highly publicized ripples in the “sub-prime” multifamily property consisting of mortgage market have only helped to further solidify our occupancies, rental approximately 221,000 rentable square feet on rates and tenant quali3cations due to the following: and 2005, the property consists of six three-t___story apartment buildings that more demand for rental housing. plans ranging in size from 751-square-foot one t___bedroom/one bath units to 1,137- square-foot purchase homes, we are renting to, and two bedroom/two bath units. retaining, some of the best quali3ed residents. These are individuals who are saving to purchase homes but Unit amenities include balconies or patios, have not yet been able to because nine-foot ceilings, track lighting, walk-in closets, of increasingly stringent lending washer/dryers and built-in surround sound requirements. These residents are not This newsletter contains only financially sound, but they are very forward-looking statements. Any speakers. Community amenities include a luxury cognizant of their credit and therefore forward-looking statements are clubhouse with veranda, modern movie theater, are not apt to be late, or default, on based upon the current beliefs their rental payments. and expectations of management state-of-the-art fitness center, billiards room and involve risks, uncertainties with wet bar and a resort-style swimming pool and other factors that may cause the sub-prime market is gone! Thus the actual results or performance with fountain. prospects for sustained demand are even greater in an already high demand to be materially different from and low supply market. any future results or performance expressed or implied by such Due to the financial strength of the forward-looking statements. The Apartment REIT, we continue to be in a material in this newsletter does position to borrow money at attractive not constitute an offer to sell, nor a solicitation of an o3er to buy the securities described herein. unit. The community is adjacent to the Naval Such an offering is made only Medical Center Portsmouth, one of the largest percent as of 12/31/07. by prospectus. Therefore, this material must be accompanied and most modern U.S. Navy hospitals and one The rate on our last purchase in late or preceded by a prospectus. of the area’s major employers. December was 5.79%, which is indicative You should carefully review of our ability to continue to borrow at the risk factor disclosure of any attractive rates. All of our permanent investment prospectus and debt is fixed rate, which gives us a great consult with your advisor before deal of financial stability and helps to investing. Grubb & Ellis Securities, assure certainty of cash generation for Inc., member FINRA/SIPC, is the our investors. dealer-manager for the Grubb & Ellis Apartment REIT offering. As of 12/31/2007. To learn more, visit www.gbe-reits.com.