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Grubb & Ellis Hires JMP To Explore Sale

Commercial real estate brokerage, Grubb & Ellis, has appointed JMP Securities as its strategic advisor.

Commercial real estate brokerage, Grubb & Ellis, has appointed JMP Securities as its strategic advisor. JMP Securities will explore strategic alternatives, including a potential sale or merger of the company.

The California-based company has received unsolicited inquiries, adds Bloomberg. The company will not declare the quarterly dividend to holders of its 12% cumulative participating perpetual convertible preferred stock.

Click here for the release from PR Newswire.

Click here for additional coverage from Bloomberg.

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