Chicago
Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta
In its second and third major moves in less than a week, Ares Commercial Real Estate REIT has agreed to acquire EF&A Funding Alliant Capital for $63 million in cash and stock, and has also named a new co-CEO, Todd Schuster.
Regency Centers Corporation Breaks Ground on $50M First Phase of Shops on Main
Regency Centers Corporation has broken ground on the first phase of Shops on Main, a 147,851-square-foot community shopping center in Schererville, Ind.
SRS, Cresa JV to Create New Lease Administration Co.
One year after announcing a strategic alliance, SRS Real Estate Partners and Cresa have gone a step further and formed SRS-Cresa Lease Administration, a new company that will offer lease administration services for office, industrial and retail clients.
New $251M State-of-the-Art Malcolm X College Campus Plans Revealed
Mayor Rahm Emanuel and City Colleges of Chicago Chancellor Cheryl Hyman recently announced plans for the new Malcolm X College campus, a major investment in Chicago’s west side. The state-of-the-art learning facility aims to provide Chicago’s students access to the tools which will enable them to succeed in the fast-growing fields such as health sciences.
Global Law Firm Renews Lease at Former Sears Tower
Dentons, the world’s seventh-largest law firm, has extended its lease in Chicago Willis Tower for 15 years. The global law firm is relocating within the building and taking as much as 144,000 square feet.
KBS REIT II and Hines Announce LEED Platinum Certification of 300 North LaSalle Office Tower
KBS REIT II along with Hines recently announced that 300 North LaSalle in Chicago has been awarded Platinum certification under the U.S. Green Building Council’s LEED for Existing Buildings category. The tower had previously received Gold certification under the LEED for Core & Shell Rating System.
NY Developer Plans Boutique Gay-Friendly Hotel in Boystown
New York-based Parkview Developers LLC plans to open a gay-friendly hotel in the heart of Boystown. The approximately 112-room hotel would be located on the 3300 block of North Halsted Street and would be called Out Chicago, according to Ian Reisner, managing partner of the development firm.
Equus Sells 330-Unit Downtown Chicago Student Housing
Equus Capital Partners, a private equity real estate fund manager, has sold a 330-unit student housing facility in Chicago for $58.5 million to a JV of Atlas Real Estate Partners, Marc Real Residential and Angelo, Gordon and Co.
Alliance Picks Up Chicago’s Burnham Center for $95M
Alliance Partners has acquired downtown Chicago’s 580,000-square-foot Burnham Center office building from Harbor Group International for $94.6 million.
Omni Obtains $250M in Financing for Three Hotels
Omni Hotels Corp. has gotten its hands on a total of $250 million in financing for a group of three properties encompassing the Omni Fort Worth, Omni Houston and Omni Chicago.