The International Centre and Kinnard Financial Center were returned to the lender, Travelers Life and Annuity of Hartford, CT according to Jim Gearen, a principal in Chicago-based Zeller Realty Corp. Zeller owned the buildings in a partnership with ING Realty Partners, an affiliate of the Dutch-based ING Group.
The transaction satisfies the outstanding debt on the property, a loan facility that totaled $57 million. Zeller and ING were current on making debt payments, and a significant, but undisclosed, portion of that debt facility had not been drawn on.
The transaction was completed last month.
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