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Published on 2/23/2023 in the Prospect News Distressed Debt Daily.

WC Braker Portfolio gets approval to sell assets to Braker Metric

By Sarah Lizee

Olympia, Wash., Feb. 23 – WC Braker Portfolio, LLC’s Chapter 11 trustee received court approval to sell the debtor’s assets to winning bidder Braker Metric Business Parks, LLC, according to a minute entry filed with the U.S. Bankruptcy Court for the Western District of Texas.

The purchase price is $102.25 million.

ATX Braker SR, LLC, which was the stalking horse bidder, was named next highest bidder.

The stalking horse bid was $75.46 million, structured as a credit bid of the mortgage loan.

There is a $125,000 expense reimbursement under the stalking horse agreement.

The debtor is a borrowing entity of World Class Property Co., a real estate investment company based in Austin, Tex. WC Braker filed bankruptcy on May 2, 2022 under Chapter 11 case number 22-10293.


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