News
Multifamily Monday
May 16, 2011
| In a vote of confidence for Chicago multifamily, Hartz Mountain sold two New York office towers and acquired One Superior Place last week. Hartz Mountain bought the 52-story, 809-unit mixed-use apartment tower and the fee lease (previously held by separate entities) for $320M. | |||
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| Robert K. Futterman's Jeff Fishman, who repped seller BLDG Superior on the sale of the fee lease, says the buyer had confidence that the River North building would continue to stay well-leased. Jeff had also previously sold the fee lease in 2005 for $55M. This time around, it fetched $80M. CBRE's Jeffrey Dunne repped the buyer. The building itself sold for $240M. | |||
