Real estate investment firm Hackman Capital Partners LLC is betting it can turn a sweet profit by acquiring out of bankruptcy proceedings property and other assets from the former Hostess Brands Inc. empire, the Wall Street Journal reported today. Under the terms of the deal authorized by a bankruptcy court last week, an affiliate of Los Angeles-based Hackman will pay the newly renamed Old HB Inc. $62.5 million for 140 vacant properties. The portfolio of equipment and real estate in 34 states includes about 3,400 vehicles and bread-delivery vans, seven factories as well as warehouses and storefronts that once sold the trademark Twinkies and Wonder Bread. Hackman, which specializes in turning around distressed industrial properties, expects to resell most of the real estate in the next 12 months to companies such as bakeries and manufacturers that will own and occupy them.
