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Grubb in Talks With C-III Capital, Colony Capital

SANTA ANA-Grubb & Ellis, which has been exploring a sale or merger since March, enters exclusive negotiations with New York City-based C-III and an affiliate of Santa Monica, CA-based Colony Capital LLC.

By Bob Howard | Updated on October 17, 2011

D’Arcy sees efficiencies of scale.

SANTA ANA-Grubb & Ellis, which has been exploring a sale or merger since March, has entered into exclusive negotiations with New York City-based C-III Capital Partners and an affiliate of Santa Monica, CA-based Colony Capital LLC. A C-III affiliate also has agreed to invest $10 million in Grubb & Ellis through the expansion of Grubb’s existing $18 million credit facility with Colony Capital, a move that “will establish both C-III and Colony Capital as significant stakeholders in Grubb & Ellis,” according to a statement this morning by the Santa Ana-based firm.

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