CHICAGO-Piedmont Office Realty Trust Inc. is planning a foreclosure auction of the 500 W. Monroe St. The owner of the 46-story tower, an affiliate of Broadway Partners Fund Manager LLC based out of New York, defaulted on the $215.6 million loan taken on the building.
The property is being marketed by Eastdil Secured LLC, a realty investment sales company. Transwestern Investment Co. based in Chicago is one of the junior lenders for the property. For the full story, go to Crain's Chicago Business.
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