SANTA ANA, CA-Grubb & Ellis Co. says it has "received initial indications of interest from numerous strategic and financial buyers" after it hired JMP Securities in March to explore a possible sale or merger of the company, or other strategic moves. The company, which hired JMP after receiving unsolicited inquiries, also says it expects to complete a transaction with respect to its Daymark Realty Advisors tenant-in-common subsidiary, which Grubb spun off as a subsidiary earlier this year.

Among those interested in Grubb & Ellis, Santa Monica, CA-based Colony Capital LLC invested $18 million in Grubb & Ellis and signed a 60-day exclusivity period to explore a larger strategic transaction. As of May 29, Colony’s exclusivity period ended, "which allows Grubb & Ellis to actively engage in discussions with additional parties, while continuing discussions with Colony," Grubb & Ellis said Tuesday in an announcement.

Thomas P. D’Arcy, president and CEO of Grubb & Ellis, said in the announcement: "We have already made significant progress with both initiatives, and now that we have expanded the pool of potential strategic partners, the board and management are intent on bringing the strategic process to conclusion in a manner that creates value for all of our stakeholders." Daymark, D'Arcy said, "has attracted strong interest from a range of potential buyers."