Document:

EX-10.2

CEDAR PARK APARTMENTS

AMENDMENT TO CONTRACT OF SALE

THIS AMENDMENT TO CONTRACT OF SALE (this “Amendment”) is entered into effective as of
February 26, 2008 (the “Effective Date”), by and between CEDAR PARK MULTIFAMILY, LTD., a Texas
limited partnership (“Seller”), and GRUBB & ELLIS REALTY INVESTORS, LLC (formerly known as
TRIPLE NET PROPERTIES, LLC), a Virginia limited liability company (together with its successors and
assigns, “Buyer”).

RECITALS

A. Seller and Buyer are parties to that certain Contract of Sale dated effective as of January
8, 2008 (the “Agreement”), with respect to that certain real and personal property located
in Williamson County, Texas and more particularly described in the Agreement (the
“Property”).

B. Buyer, by notice to Seller, terminated the Agreement on February 7, 2008.

C. Seller and Buyer desire to reinstate the Agreement and amend the Agreement as hereinafter
provided.

AGREEMENT

NOW, THEREFORE, for and in consideration of the premises and the mutual agreements herein set
forth and further good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller and Buyer hereby agree as follows:

1. Definitions. Capitalized terms used but not otherwise defined herein shall have
the meanings given to such terms in the Agreement.

2. Reinstatement. The Agreement is hereby reinstated as of the date hereof subject to
the terms, conditions and provisions set forth therein, as amended by this Amendment.

3. Eagle Brothers Mechanics’ Lien. Seller acknowledges that the Property is subject
to that certain Mechanic’s Lien by Affidavit (the “Lien”) executed by Eagle’s Brother
Construction (“Eagle Brothers”), in the amount of One-Hundred Thirty-Four Thousand
Eight-Hundred Eighteen and 58/100 Dollars ($134,818.58), filed December 22, 2006, and recorded
under Document No. 2006112288 of the real property records of Williamson County, Texas (the
“Public Records”). Buyer agrees to reinstate the Agreement, and Buyer’s obligations under
the Agreement shall be conditioned, upon the following terms and conditions:

(i) As a condition to Buyer’s obligation to close, Seller covenants and agrees to perform
either of the following as of Closing, the election to be made by Seller at Seller’s discretion:

(a) On or before the Closing Date, Seller shall cause a release of the Lien to be recorded in
the Public Records, and Seller shall provide to Buyer and to the Title Company evidence of such
release, which evidence shall be satisfactory in form and substance to the Title Company to remove
the Lien from any policy of title insurance to be issued by the Title Company, or

(b) At Closing, a creditworthy principal of Seller (such creditworthiness to be determined at
Buyer’s reasonable discretion) (the “Indemnitor”) shall enter into a supplemental Indemnity
Agreement (the “Indemnity”) with Buyer, and such Indemnity shall provide that Indemnitor
shall indemnify, hold harmless and defend Buyer with counsel selected by or acceptable to Buyer
against any and all losses, costs, expenses, damages, suits, claims or actions in any way relating
to or arising from the Lien and/or claims of Eagle Brothers for amounts owed for work, services or
materials supplied to or for the Property and shall be on such other terms and conditions as are
satisfactory to Buyer in Buyer’s reasonable discretion.

(ii) Seller acknowledges that Buyer intends to obtain financing on the Property from one or
more lenders (collectively, the “Lender”). Seller covenants and agrees if required by
Lender to (a) name Lender (together with its successors and assigns) as a beneficiary of the
Indemnity; and/or (b) provide additional security for the Indemnity; or (c) cause the Lien to be
released of record as provided in Section 3(i)(a) of this Amendment; provided, it is expressly
understood and agreed that in no event shall Seller be required to undertake items (a) or (b) above
if Seller elects, or is required by Lender, to cause the Lien to be released of record as provided
in Section 3(i)(a).

(iii) Seller acknowledges and agrees that in the event Seller fails and refuses to perform as
required in subsections (i) and (ii) above, such failure and refusal shall constitute a default by
Seller under the Agreement, and Buyer shall be entitled to all of Buyer’s rights and remedies
thereunder.

(iv) Buyer, for itself and its wholly-owned affiliates only, and not on behalf of any
successors or assigns or any lender or other third party, from the date hereof until the Closing
Date, agrees that it will not willfully and intentionally take affirmative action to directly
notify Eagle Brothers of Buyer’s acquisition of the Property as contemplated by the Agreement, or
the existence of the Indemnity.

4. Additional Deposit. Within two (2) Business Days after the Effective Date, Buyer
shall deliver to the Title Company the Additional Deposit, which Additional Deposit shall be held
by the Title Company as escrow agent and distributed (or refunded to Buyer, as applicable)
according to the terms of the Agreement.

5. Ratification. Seller and Buyer acknowledge and agree that, except as amended
herein, the Agreement is in full force and effect and is hereby ratified and confirmed.

6. Miscellaneous. This Amendment (i) may be executed by facsimile signatures and in
several counterparts, and each counterpart when so executed and delivered shall constitute an
original of this Amendment, and all such separate counterparts shall constitute but one and the
same Amendment and (ii) embodies the entire agreement and understanding between the parties with
respect to the subject matter hereof and supercedes all prior agreements, consents and
understandings related to such subject matter.

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW]

1

EXECUTED to be effective as of the date first above written.

SELLER:

CEDAR PARK MULTIFAMILY, LTD.

	 	 	 
	By:

	 	1341-Discover Multifamily, Ltd., a Texas

limited partnership, its general partner
	By:

	 	ROLED Cedar Park, LLC, a Texas

limited liability company, its general

partner

By: /s/ Edmund H. Garahan

Name: Edmund Garahan, Manager

BUYER:

GRUBB & ELLIS REALTY INVESTORS, LLC

(formerly known as Triple Net Properties, LLC)

By: /s/ Andrea R. Biller

Name: Andrea R. Biller

Title: Executive Vice President

2EX-10.3

CEDAR PARK APARTMENTS

SECOND AMENDMENT TO CONTRACT OF SALE

THIS SECOND AMENDMENT TO CONTRACT OF SALE (this “Amendment”) is entered into effective
as of March 7, 2008 (the “Effective Date”), by and between CEDAR PARK MULTIFAMILY, LTD., a Texas
limited partnership (“Seller”), and GRUBB & ELLIS REALTY INVESTORS, LLC (formerly known as
TRIPLE NET PROPERTIES, LLC), a Virginia limited liability company (together with its successors and
assigns, “Buyer”).

RECITALS

A. Seller and Buyer are parties to that certain Contract of Sale dated effective as of January
8, 2008, as amended by that certain Amendment to Contract of Sale dated effective as of February
26, 2008 (as amended, the “Agreement”) with respect to that certain real and personal
property located in Williamson County, Texas and more particularly described in the Agreement (the
“Property”).

B. Seller and Buyer desire to amend the Agreement as hereinafter provided.

AGREEMENT

NOW, THEREFORE, for and in consideration of the premises and the mutual agreements herein set
forth and further good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller and Buyer hereby agree as follows:

1. Definitions. Capitalized terms used but not otherwise defined herein shall have
the meanings given to such terms in the Agreement.

2. Amendment. Section 1(d) of the Agreement shall be deleted in its entirety and
replaced as follows:

“(d) To the extent assignable at no cost to Seller, all intangible personal
property, if any, owned by Seller and related to the Land and the Improvements,
including, without limitation, the name ‘Arboleda Luxury Apartment Homes.’”

3. Ratification. Seller and Buyer acknowledge and agree that, except as amended
herein, the Agreement is in full force and effect and is hereby ratified and confirmed.

4. Miscellaneous. This Amendment (i) may be executed by facsimile signatures and in
several counterparts, and each counterpart when so executed and delivered shall constitute an
original of this Amendment, and all such separate counterparts shall constitute but one and the
same Amendment and (ii) embodies the entire agreement and understanding between the parties with
respect to the subject matter hereof and supercedes all prior agreements, consents and
understandings related to such subject matter.

EXECUTED to be effective as of the date first above written.

SELLER:

CEDAR PARK MULTIFAMILY, LTD.

	 	 	 
	By:

	 	1341-Discover Multifamily, Ltd., a Texas

limited partnership, its general partner
	By:

	 	ROLED Cedar Park, LLC, a Texas

limited liability company, its general

partner

By: /s/ Edmund H. Garahan

Name: Edmund Garahan, Manager

BUYER:

GRUBB & ELLIS REALTY INVESTORS, LLC

(formerly known as Triple Net Properties, LLC)

By: /s/ Jeff Hanson

Name: Jeff Hanson

Title: Chief Investment OfficerEX-10.4

CEDAR PARK APARTMENTS

THIRD AMENDMENT TO CONTRACT OF SALE

THIS THIRD AMENDMENT TO CONTRACT OF SALE (this “Amendment”) is entered into effective
as of March 27, 2008 (the “Effective Date”), by and between CEDAR PARK MULTIFAMILY, LTD., a Texas
limited partnership (“Seller”), and GRUBB & ELLIS REALTY INVESTORS, LLC (formerly known as
TRIPLE NET PROPERTIES, LLC), a Virginia limited liability company (together with its successors and
assigns, “Buyer”).

RECITALS

A. Seller and Buyer are parties to that certain Contract of Sale dated effective as of January
8, 2008 (the “Agreement”), with respect to that certain real and personal property located
in Williamson County, Texas and more particularly described in the Agreement (the
“Property”). The Agreement was amended by Amendment to Contract of Sale dated effective
February 26, 2008 (“First Amendment”) and by Second Amendment to Contract of Sale dated effective
March 7, 2008 (“Second Amendment”).

B. Section 4(a) provides that for Buyer to extend the scheduled Closing Date, Buyer must (i)
notify Seller of such election at least five (5) days prior to the scheduled Closing Date; and (ii)
deposit with the Title Company the Extension Fee in the amount of $150,000.00 by the same date. The
Closing was scheduled to occur on March 10, 2008. Buyer notified Seller by letter dated March 3,
2008 of Buyer’s election to extend the Closing Date and requested that Seller extend the date the
Extension Fee is due.

C. Seller and Buyer desire to amend the Agreement as hereinafter provided.

AGREEMENT

NOW, THEREFORE, for and in consideration of the premises and the mutual agreements herein set
forth and further good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller and Buyer hereby agree as follows:

1. Definitions. Capitalized terms used but not otherwise defined herein shall have
the meanings given to such terms in the Agreement.

2. Extension Fee and Closing. Seller and Buyer agree that (i) the date the Extension
Fee is due is hereby extended until April 4, 2008; and (ii) the Closing shall occur on or before
April 9, 2008.

3. Ratification. Seller and Buyer acknowledge and agree that, except as amended
herein and by the First Amendment and Second Amendment, the Agreement is in full force and effect
and is hereby ratified and confirmed.

4. Miscellaneous. This Amendment (i) may be executed by facsimile signatures and in
several counterparts, and each counterpart when so executed and delivered shall constitute an
original of this Amendment, and all such separate counterparts shall constitute but one and the
same Amendment and (ii) embodies the entire agreement and understanding between the parties with
respect to the subject matter hereof and supercedes all prior agreements, consents and
understandings related to such subject matter.

EXECUTED to be effective as of the date first above written.

SELLER:

CEDAR PARK MULTIFAMILY, LTD.

	 	 	 
	By:

	 	1341-Discover Multifamily, Ltd., a Texas

Limited partnership, its general partner
	By:

	 	ROLED Cedar Park, LLC, a Texas

limited liability company, its General

Partner

By: /s/ Edmund H. Garahan

Name: Edmund Garahan, Manager

By: /s/ Roland Stewart

Name: Roland Stewart, Manager

BUYER:

GRUBB & ELLIS REALTY INVESTORS, LLC

(formerly known as Triple Net Properties, LLC)

By: /s/ Jeff Hanson

Name: Jeff Hanson

Title: Chief Investment Officer

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