Search
 

300 South Riverside Plaza Trades for $190M

CHICAGO-A group of private investors led by Joseph Mizrachi and David Werner buys the trophy office building from Brookfield.

By Jennifer Duell Popovec | Updated on December 30, 2010

CHICAGO-A group of private investors led by Joseph Mizrachi and David Werner has acquired 300 South Riverside Plaza, a trophy office building in the city’s West Loop submarket, for $190 million. Brookfield Real Estate Opportunity Fund sold the 1.1-million-square-foot tower after owning it for roughly four years.

The new owners obtained a senior leasehold mortgage of $120 million from UBS to acquire the 23-story tower, which located is directly across the street from Union Station and three blocks south of Ogilvie Station, Chicago’s busiest commuter train station. With a glass curtain wall that offers magnificent views along the Chicago River, 300 South Riverside Plaza is 97% leased primarily to credit and institutional tenants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.