The Real Deal New York

Posts Tagged ‘jmp securities’

  • Howard Lutnick’s BGC Partners is expected to close soon on the acquisition of the bankrupt commercial brokerage Grubb & Ellis, but the total amount his firm plans to pay remains a mystery.

    California-based Grubb filed for bankruptcy Feb. 20, as part of plan in which BGC would buy Grubb’s assets. A bankruptcy court judge approved the sale March 27, and the transaction is expected to close in the coming days. [more]

  • Colony invests $18M in Grubb & Ellis

    March 31, 2011 09:54AM

    Grubb & Ellis, the commercial real estate brokerage that announced in a regulatory filing earlier this month that it was considering a sale or merger, has just received an $18 million shot in the arm from Colony Capital, the private equity firm owned by billionaire Thomas Barrack. According to Bloomberg News, the financing is part of an agreement under which Colony will explore the possibility of a larger investment during an exclusive, 60-day negotiating period. As it said in the regulatory filing March 21, Grubb & Ellis has hired JMP Securities to help it weigh “strategic alternatives.” … [more]