CBRE, WWG $588 Million Bid Wins GVS Texas Bankruptcy Auction (1)

A joint venture of CBRE Group Inc. and the William Warren Group won a bankruptcy auction for GVS Texas Holdings I LLC’s assets for $588.3 million, a price tag about $138 million more than the group’s initial bid.

CBRE WWG Storage Partners JV III LLC, the stalking horse bidder, won the auction for nearly all of self-storage operator GVS Texas’s assets, according to a notice the debtor filed Wednesday.

Those assets include 64 self-storage facilitates in the Midwest and Southwest, comprising about 4 million square feet of space, GVS Texas’ attorney, Thomas Califano of Sidley Austin LLP, told Bloomberg Law ...