NAPERVILLE, IL-A joint venture between Northbrook-based Bixby Bridge Capital LLC and Oak Brook-based Franklin Partners LLC has purchased MetroWest, an office building measuring 205,000 square feet at 55 Shuman Blvd. along the East-West Tollway, out of foreclosure. The investors bought a defaulted $23.5-million mortgage on the Naperville building.
Northbrook-based Allstate Life Insurance Co., the building's lender, foreclosed the property in May after a joint venture headed by Boston-based General Investment & Development Cos., the building owner, failed to pay a $23.5-million loan. For the full story, go to Crain's Chicago Business .
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