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CHICAGO-Behringer Harvard, based in Dallas, just about multiplied its Chicago holdings by four, going from 1.2 million sf to 4.4 million sf with the closing of a four-building, 3.2-million-sf office portfolio here from affiliates of Boston-based Beacon Capital Partners. The sales price was $832.5 million, sources say. The acquisition is for Behringer Harvard REIT I Inc.

The portfolio includes the 39-story One Financial Place at 440 S. LaSalle St. with one million sf of rentable space; the twin 21-story buildings with a total of nearly 1.4 million sf of space at 10 S. Riverside Plaza and 120 S. Riverside Plaza; and 200 S. Wacker Dr., a 40-story office tower with 750,000 sf of rentable space.

All of the properties have an occupancy rate of more than 90% except for 200 S. Wacker Dr., which has an occupancy rate of approximately 80%, says Jason Mattox, executive vice president at Behringer. “We like Chicago as a long-term market,” Mattox says. Chicago has “a strong demographic” Fortune 500 companies and a “24-hour nature,” he says. Behringer was also interested in the portfolio because of the locations, the “high credit tenants” and because the buildings are “absolutely unique,” Mattox says.

Jones Lang LaSalle, based here, currently manages and leases all of the buildings except for 200 S. Wacker Dr. which is managed and leased by Chicago-based John Buck Co., he says. Behringer Harvard does not plan on changing the management and leasing of the buildings, Mattox says. Some of the major tenants include Goldman Sachs, Chicago Stock Exchange, Morgan Stanley, Merrill Lynch, CDW Corp., Zurich American, Boston Consulting Group, Orbitz.com and the University of Illinois.

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