ITT Educational Services Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on January 24, 2017. The debtor seeks the Court’s approval for the sale of its certain assets to Palmer Holdings LLC, the stalking horse bidder, for a purchase price of $3.25 million in cash pursuant to the asset purchase agreement dated January 5, 2017. The debtor’s assets include real property commonly known as 1400 International Parkway South, Lake Mary, FL. Under the terms of the agreement, the buyer shall pay an initial deposit of $0.33 million upon the entry of the asset purchase agreement. To qualify as a qualified bidder, interested parties should submit their bids by March 1, 2017. The debtor has scheduled an auction on March 7, 2017. The sale hearing is scheduled for March 8, 2017. The closing of the transaction shall take place not later than 30 days following the entry of the sale order. A&G Realty Partners, LLC acted as real estate brokers with respect to the sale for a commission of 1.95% of the gross sale proceeds. John C. Hoard and Deborah Caruso of Rubin & Levin, P.C. represented the debtor as legal advisors and Cedella C. Fermin of Fermin & Fermin. P.A. represented the buyer as legal advisor.