The El Paso (Texas) Times today reported that there is more speculation of a sale looming for its parent.
Following reports in January that major asset managers Cerberus Capital Management and Apollo Global Management were bidding for DFM, an El Paso commercial broker told the Times that the nixing of a major real estate deal may be proof of a bigger move on the horizon.
Stan Okies with CORE Counselors of Real Estate has spent four months in negotiations, working with a buyer to acquire the 63,000-square-foot building behind City Hall that houses the Times’ printing press, he told the Times.
“Then, last Friday (Feb. 20) we received a communication at a very late hour that the deal we’d been working on and thought was going into contract that day or soon was terminated,” Okies said. “No reason was given.
“In addition, we were informed that the property was being removed from the market.”