CHICAGO-Earlier this month, an apartment realty investment trust based in suburban Dallas made an agreement to pay $189 million for a 75% interest in the apartment portion of the 82-floor tower, Aqua, at 225 N. Columbus Drive.
But the transaction is subject to substantive conditions, including the closing of an unfinished deal by Magellan Development Group LLC., the developer of Aqua, said Behringer Harvard Multifamily REIT I Inc. As per the deal, Behringer will receive nearly $100 million in financing. For the full story, go to Crain's Chicago Business.
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