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The team, led by David Beshears, brings a 25-year track record and will focus on a wide variety of property types, primarily in Florida and the Southeast.
The transaction, according to Cushman & Wakefield, for the full-building lease involved the negotiation of a lease termination with existing tenant, Sun Pharmaceutical, and the arrangement for the purchase of in-place research and development infrastructure.
The 10-year deal at the 17-story, 332,000-square-foot building in Chicago's West Loop was announced by Colliers International. Onni Group acquired the Union Tower building earlier this year for approximately $80 million, according to multiple published reports.
The real estate investment firm recapitalized the asset through an equity joint venture with Nan Fung Group and debt from Axonic Capital and Athene Annuity & Life Assurance Company.
One of the latest tenants at the property is Dunkin', which leased 1,802 square feet in a local relocation of an existing franchise. Bubbakoo Burritos also signed on for 1,695 square feet at the property.
Panelists during the transaction talk panel at GlobeSt. APARTMENTS talk about deploying money in the best way, challenges to address and picking the right spots and create value in multifamily assets.