BGC Negotiates Possible Investment In Grubb & Ellis
BGC Partners, which bought Newmark & Company last year for $63 million in cash plus additional stock, is in talks to invest in the struggling commercial brokerage firm Grubb & Ellis.
In a filing with the U.S. Securities and Exchange Commission, Grubb & Ellis said that the firm entered into an exclusivity agreement which gives BGC until Jan. 31 to pursue “debt or equity financing and/or a strategic transaction with [Grubb & Ellis].”
The exclusive agreement Grubb had with Andrew Farkas C-III Capital and Colony Capital expired earlier this week.
Source: The Real Deal
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