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JV Gets $62M Financing for Time-Life

CHICAGO-A joint venture between Golub & Co. and Wachovia Securities buys 541 N. Fairbanks. Plans are under way for a renovation and repositioning of the building.

By Bonnie Grota | Updated on June 29, 2006

(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.

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