BioFuel Energy Corp. completes $275M acquisition of Dallas real estate firm

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Denver's BioFuel Energy has purchased Dallas real estate firm JBGL Builder Finance.

Korri Kezar

Staff Writer- Dallas Business Journal

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Denver energy company BioFuel Energy Corp. has completed its acquisition of Dallas-based JBGL Builder Finance in a $275 million deal.

The payment consisted of $191.8 million in cash and 11,108,500 shares of common stock.

With the transaction, BioFuel also changed its name to Green Brick Partners Inc. Company stock started trading Tuesday on the NASDAQ under ticker symbol GRBK.

"As a private company, we have developed a great lot position, superior operators, aligned management and achieved strong financial results," said James Brickman, Green Brick's CEO. "We expect to become even stronger as a public company because we now have permanent capital, the ability to retain earnings tax efficiently and access to capital for future growth."

JBGL owns an array of real estate investments and provides secured first lien loans for real estate transactions.

Korri covers banking, finance and nonprofits for the Dallas Business Journal. Subscribe to our email newsletters.