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Wednesday, January 18, 2012 5:58:25 AM
Only a matter of time before acquisition news will be announced imo
- Apparently, there are many interested parties and competition drives up the price
The exclusivity agreement with BGC expires 31th January 2012, so chances are pretty good we will see a deal within the next 2 weeks!
all quotes from the article posted earlier: Atlanta Business Chronicle, 7th October 2011
http://www.bizjournals.com/atlanta/print-edition/2011/10/07/new-suitors-are-emerging-for-grubb.html?page=all
Grubb & Ellis, Atlanta’s fifth-largest brokerage with $1.2 billion in sales and leasing transactions in 2010, has been the subject of acquisition rumors much of this year.
Avison Young, the expanding Canadian real estate services firm that was in talks to buy a portion of Barry Real Estate Cos. Inc.’s leasing and management portfolio, was also eyeing Grubb & Ellis.
- H.I.G. Capital LLC, the Miami-based private equity firm with more that $8.5 billion in capital and managing a portfolio of more than 50 companies, and New York’s Cerberus Capital Management L.P., have also put themselves in the mix.
- Colony Capital LLC was the early favorite, providing an $18 million financing commitment that secured the right to negotiate exclusively with Grubb & Ellis for 60 days.
- BGC may have recently become the front-runner to make the deal, according to sources familiar with the process. It would make sense for the Cantor Fitzgerald spin-off, allowing it to enter some of the biggest U.S. commercial real estate markets through two major acquisitions. It’s also about to complete a deal to buy Newmark Knight Frank, giving it strong presence in Manhattan and, potentially through Grubb & Ellis, entrance in the West Coast markets.
- Apparently, there are many interested parties and competition drives up the price
The exclusivity agreement with BGC expires 31th January 2012, so chances are pretty good we will see a deal within the next 2 weeks!
all quotes from the article posted earlier: Atlanta Business Chronicle, 7th October 2011
http://www.bizjournals.com/atlanta/print-edition/2011/10/07/new-suitors-are-emerging-for-grubb.html?page=all
Grubb & Ellis, Atlanta’s fifth-largest brokerage with $1.2 billion in sales and leasing transactions in 2010, has been the subject of acquisition rumors much of this year.
Avison Young, the expanding Canadian real estate services firm that was in talks to buy a portion of Barry Real Estate Cos. Inc.’s leasing and management portfolio, was also eyeing Grubb & Ellis.
- H.I.G. Capital LLC, the Miami-based private equity firm with more that $8.5 billion in capital and managing a portfolio of more than 50 companies, and New York’s Cerberus Capital Management L.P., have also put themselves in the mix.
- Colony Capital LLC was the early favorite, providing an $18 million financing commitment that secured the right to negotiate exclusively with Grubb & Ellis for 60 days.
- BGC may have recently become the front-runner to make the deal, according to sources familiar with the process. It would make sense for the Cantor Fitzgerald spin-off, allowing it to enter some of the biggest U.S. commercial real estate markets through two major acquisitions. It’s also about to complete a deal to buy Newmark Knight Frank, giving it strong presence in Manhattan and, potentially through Grubb & Ellis, entrance in the West Coast markets.
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