BGC Finally Gets Go-Ahead To Buy Grubb & Ellis Co.

Law360, New York (March 27, 2012, 5:56 PM ET) -- Following a contentious legal battle between creditors of the bankrupt Grubb & Ellis Co. and its sole bidder in a Section 363 asset sale, a federal judge on Tuesday approved BGC Partners Inc.'s purchase of the foundering commercial real estate firm.

The deal of more than $50 million, which BGC says it expects to close soon, broadens a commercial real estate portfolio that already includes multinational firm Newmark Knight Frank.

Between them, the two real estate companies will have 250 million square feet of property, more than...
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