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CHICAGO-The Michigan Plaza office complex has refinanced its debt with new loans valued at $210 million. The new loans replace the building’s previous debt of $232 million and were financed by London investor, Sir Joseph Hotung.

The loans were arranged by Morgan Stanley who has announced plans to resell most of the new debt on the CMBS market. The Michigan Plaza complex consists of two buildings measuring a combined 1.9 million square feet. For the full story, go to Crain’s Chicago Business.

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