Morguard to Pay $300M for Alta at K Station Apartments
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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 .
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