G & E files for bankruptcy
BGC Partners will buy the assets of Grubb & Ellis Co., which filed for bankruptcy in February.Grubb & Ellis listed $150 million in assets and $167 million in debt in its Chapter 11 filing. The brokerage was dumped as the sponsor of Grubb & Ellis Healthcare REIT II in November. American Healthcare Investors and Griffin Capital became the co-sponsors and renamed the REIT the Griffin-American Healthcare Trust Inc. Recent acquisitions by the REIT include 10 skilled nursing facilities in the Southeast last fall for $166.5 million.