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No. 13 ranked Grubb & Ellis Looking for Suitors

by thiryj

NREI reports:  One of the most well recognized brand names in commercial real estate brokerage — Grubb & Ellis Co. — has been working on several fronts to regain profitability and improve its balance sheet. Now the embattled firm says it is free to consider new strategies while it pursues deals already on the table.

In March, Santa Ana, Calif.-based Grubb & Ellis (NYSE: GBE) hired JMP Securities to explore the potential sale or merger of the company. That same month, it announced receipt of an $18 million loan from private investment firm Colony Capital.

Grubb & Ellis Is Open to Sale, Merger Offers.