A buyer financed by the private investment firm of Michael S. Dell boosted its bid at the last minute to win the most valuable properties of bankrupt retailer Toys “R” Us Inc. in a court-managed sale, Bloomberg News reported. A joint venture between Saadia Group and Square Mile Capital used a $120 million loan from MSD Partners to convince a bankruptcy judge to accept its bid for two of Toys “R” Us’s distribution centers over a competing offer from Isaac Larian, the chief executive of toymaker MGA Entertainment. The Saadia venture will pay $177 million for the properties in California and New Jersey, which a Toys “R” Us lawyer called the most valuable real estate owned by the retailer’s U.S. business.
