(To read more on the debt and equity markets, click here.)
CHICAGO-Golub & Co. and Charlotte, NC-based Wachovia Securities have entered into a joint venture to purchase 541 North Fairbanks, also known as the Time-Life Building. The 542,000-sf, 30-story office consists of 528,567 sf of office space and 13,070 sf of retail space.
The seller was Capri Capital Advisors LLC on behalf of an institutional owner. Sales price was not disclosed.
Anglo Irish Bank Corp. plc provided $62 million in financing for the acquisition. Tony Campbell, president and CEO of Anglo Irish Bank's North American operations, tells GlobeSt.com that "because of our long-term relationship with Golub, we were able to complete this transaction within a couple of weeks. Due to our flat organizational structure, we can move quickly to meet our client's financing needs. We have completed a number of previous transactions with them."
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