CHICAGO-Locally based KTC Properties has reportedly paid about $60 million at auction to acquire about $101 million in outstanding loans on the 484,000-square-foot office tower at 225 W. Washington St. The company now owns the deed to the West Loop building, and minority partner Golub & Co. will continue to manage the 28-story tower.

A joint venture of Golub and Dublin, Ireland-based Quinlan Private Capital Ltd. purchased the building in 2005, when it was valued at $86 million. However, Anglo Irish Bank Corp. foreclosed on the loans and sold them at the auction, represented by Stephen Livaditis with Eastdil Secured. Avestus Capital Partners, also based in Ireland, took over Quinlan’s business.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.