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MB Real Estate Acquires SBG Holdings

CHICAGO-With MB Real Estate's acquisition of SBG, the company will improve its position locally as a manager of major condo and rental multifamily properties.

By Dees Stribling | Updated on March 05, 2003

CHICAGO-MB Real Estate Services LLC has entered into an agreement to acquire the assets of SBG Holdings LLC. MB Real Estate, a commercial real estate advisory and service firm that manages a portfolio of more than 15 million sf of commercial and institutional properties and corporate facilities, is the Chicago-based real estate arm of New York-based Howard and Edward Milstein, who also have substantial interests in banking and insurance.

SBG Holdings LLC is the parent company of Sudler and Co., Sudler/Beliard Gordon and Downs, Mohl & Co. SBG Holdings, through its subsidiaries, manages over 155 residential communities with 17,000 units. It is also a residential brokerage firm, employing over 164 brokers throughout Chicago.

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