Morguard to Pay $300M for Alta at K Station Apartments
Going away this summer? Get the region's commercial news in your inbox with GlobeSt.com's Chicago AM Alert. Follow the latest transactions, industry activities and read interviews that keep you informed. Sign Up Today!
CHICAGO-A real estate investor from Canada has agreed purchase Alta at K Station, an 848-unit apartment community in the West Loop, for approximately $300 million. Mississauga, Ontario-based Morguard Corp. will pay about $354,000 per unit for the two-tower apartment property at 555 W. Kinzie St.
Morguard is buying the complex from a joint venture between Pacific Life Insurance Co. of Newport Beach, California, and Fifield Cos. of Chicago. Alta at K Station, completed in 2010, is nearly 94% occupied. For the full story, go to Crain's Chicago Business .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Multifamily Leader delivers in-depth examinations of the market conditions and trends shaping the apartments and condo industry. Register for the alert now!
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.