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Barrack’s Colony Invests $18 Million in Broker Grubb & Ellis

Billionaire Thomas J. Barrack Jr.’s Colony Capital LLC is investing $18 million in real estate brokerage Grubb & Ellis Co., which said earlier this month it’s considering a sale or merger.

As part of the financing agreement, Colony will evaluate a larger investment during an exclusive, 60-day negotiating period, Santa Ana, California-based Grubb & Ellis said today in a statement.