National Commercial Real Estate News From CoStar Group
Canadian Firm To Pay $300M for Chicago Apt. High-Rise
Morguard Corp., an Ontario, Canada-based investor, agreed to purchase Alta at K Station, an 848-unit multifamily complex in Chicago’s West Loop, for $300 million or $353,774 per unit. The company plans to finance the acquisition with a $200 million loan for a 10-year term at 3.29 percent and available funds. The deal is set to close by the end of December.
Owners Fifield Cos., a Chicago-headquartered developer, and Pacific Life Insurance Co., its...