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Taconic Group Sheds 600 W. Chicago for $300M

CHICAGO-A group of New York City investors is buying 600 W. Chicago from a partnership including Taconic Investment Partners, Angelo Gordon & Co. and Centrum Properties.

By Gina Kenny | Updated on June 24, 2007

(Read more on the debt and equity markets.)

CHICAGO-A group of New York City private investors, 600 West Chicago Associates LLC, has purchased the 1.8-million-sf, mixed-use building at 600 W. Chicago. A partnership including Taconic Investment Partners, Angelo Gordon & Co. and Centrum Properties Inc. sold the property. Douglas Harmon of Eastdil Secured was the advisor on the deal.

Senior managing director Michael Kavanau and managing director Evan Pariser, both with Holliday Fenoglio Fowler LP, arranged $265 million in financing for the acquisition. The sales price was not disclosed, but was reportedly $300 million. The loan to value was just less than 80%, Kavanau says. The cap rate was not disclosed.

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