bankruptcy

After Sale Approval In Bankruptcy Court, Grubb & Ellis Moves To Next Phase Under BGC

March 29, 2012

Costar… This week a bankruptcy court judge approved the sale of the venerable but cash-strapped Grubb & Ellis Co. to BGC Partners, Inc., ushering in the latest in a series of changes that have roiled the commercial real estate brokerage business. Next comes the hard work involved in exiting bankruptcy and integrating the new acquisition. Among the challenges the two firms face are preserving Grubb & Ellis’s property and facilities management and brokerage… Read the rest here: After Sale Approval In Bankruptcy Court, Grubb & Ellis Moves To Next Phase Under BGC Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale

March 22, 2012

Costar… Grubb & Ellis Co. has canceled a bankruptcy auction to sell off its assets, leaving BGC Partners, LP as the only bidder and clearing the way for a court hearing on Thursday to approve the sale. Santa Ana, CA-based Grubb & Ellis filed for bankruptcy protection on Feb. 20 and entered into a letter of intent in which BGC Partners, acting as a stalking horse buyer, acquired the brokerage’s outstanding secured debt and submit the minimum bid to acquire… See more here: Path Cleared For Bankruptcy Court Approval of Grubb & Ellis Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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Real Mex Abruptly Closes 10 More Eateries; Proceeds with Bankruptcy Sale

March 7, 2012

Costar… Noteholders including affiliates of Tennenbaum Capital Partners, Z Capital Partners and J.P. Morgan Investment Management, have won the bankruptcy auction to acquire virtually all of the assets of Real Mex Restaurants Inc.in Cypress, CA. The group offered an $80 million credit bid for Real Mex’s second-lien notes, as well as about $49 million in cash and the assumption of certain liabilities. Real Mex Restaurants is the largest full-service, casual… Continued here: Real Mex Abruptly Closes 10 More Eateries; Proceeds with Bankruptcy Sale Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net

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