CHICAGO-The offering pays off the bridge credit incurred from Cornerstone merger. Funds will also reduce general line of credit to zero. The securities have been rated Baa1 by Moody's and BBB+ by Standard & Poor's and Fitch.
CHICAGO-When construction of the building, to be named UBS Tower, began in October 1999, 15% of the space had been leased. Now, 10 months prior to opening, 74% of the space is spoken for.
CHICAGO-As part of the plan, the company is selling 1.5 million of its common shares at $43.25 each, which will provide net proceeds of approximately $63.2 million.
CHICAGO-Site of multi-use project is the last major parcel to be sold off by the American Medical Association. Retail and multifamily will rise in its place.
CHICAGO-The deal is reported to be one of the largest leases in the O'Hare submarket this year. Renovation and expanison of the parking facility will provide its with one of the highest parking ratios in the area.