Bankrupt Spirit Airlines, which is winding down its business after it stopped flying in May, has picked a “stalking horse” bidder that has offered to buy the company’s Dania Beach headquarters campus for $88 million.
The airline is now at the stage of liquidating assets as it seeks to raise cash to pay off creditors. The company filed for Chapter 11 bankruptcy protection in August 2025 in the hopes that it would emerge from the process this summer with a lighter debt load and a profitable business plan. Instead, it ran short of cash and halted operations on May 2 after failing to secure a last-ditch bailout from the U.S. government that would have raised $500 million.
Besides the sale of its headquarters, the company has named another prospective buyer — Save 2026-B LLC — to acquire 27 of the remaining Airbus jetliners Spirit owns for $630 million.
On Monday, the court approved the acquisition of Spirit’s departure and arrival slots at New York’s LaGuardia Airport by JetBlue Airways, which outbid six other would-be buyers with an offer of $58.5 million.
Prime property
But the fate of the Dania Beach headquarters campus drew more prominent public attention this summer, when Broward County commissioners explored the possibility of the county buying a portion of the property to build a new county government center.
The idea was dropped, however, over zoning uncertainties.
Now, a private sector buyer has emerged: An entity called DPC Holdco LLC, which court files show is tied to a Boston investment management firm called Hill City Capital. The firm reportedly has $4.9 billion in assets under management.
A Hill City Capital representative did not respond to an email seeking comment.
But a sales agreement that appeared Wednesday in the Spirit bankruptcy court file shows a proposed $88 million purchase price for the office building, a two-story ancillary building, a six-story parking garage and a two-story training center.
Under the deal, Spirit would be allowed to continue to occupy 15,000 square feet on the office building’s fourth floor until a date to be determined, or until Oct. 31, whichever comes first.
U.S. Bankruptcy Judge Sean Lane has set Aug. 7 as a final bid deadline for other parties interested in the campus, as well as for other assets, according to an updated hearing schedule.
An auction, if required, is scheduled for Aug. 11.
Spirit has until Aug. 12 to file a notice of the auction results.