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

Law360, New York (March 27, 2012, 5:56 PM EDT) -- 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...
To view the full article, register now.