|

CHICAGO-New York-based J. P. Morgan Asset Management has made anagreement to invest nearly $182 million in the apartments in Aqua,a 82-story tower near Millennium Park at 225 N. Columbus Drive. Theowner of the building, Magellan Development Group LLC has agreed tosell a majority stake in the tower's commercial and parking spaceand 474 apartments to the investment firm.

|

The sale would help Magellan to pay the $175-million balance onthe loan availed for the construction of Aqua. For the fullstory, go to Crain's Chicago Business.


GlobeSt.com News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

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

  • 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
NOT FOR REPRINT

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