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.
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