NAPERVILLE, IL-An affiliate of Wells Fargo Bank, N.A., sold the two-building office complex at 1751 and 1771 W. Diehl road here to New York City-based private equity firm Stabilis Capital Management, LP for $22.95 million.
Wells Fargo took title on the 220,000-square-foot complex in a public auction last January, according to Crain's Chicago Business.
The previous owner of the complex, Keystone Property Group Inc. of Bala Cynwyd, PA, paid $16.8 million for the buildings in October 2006.
Wells Fargo filed foreclosure actions against Keystone affiliates in 2012, charging it was owed $62.8 million on both the Naperville property and Bannockburn Lake Office Plaza, a 316,000-square-foot office complex. The bank seized the Bannockburn-IL-based property at a public auction in October. See story in Crain's Chicago Business.
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