CHICAGO-New York-based J. P. Morgan Asset Management has made an agreement to invest nearly $182 million in the apartments in Aqua, a 82-story tower near Millennium Park at 225 N. Columbus Drive. The owner of the building, Magellan Development Group LLC has agreed to sell a majority stake in the tower's commercial and parking space and 474 apartments to the investment firm.
The sale would help Magellan to pay the $175-million balance on the loan availed for the construction of Aqua. For the full story, go to Crain's Chicago Business.
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