The credit crunch has forced many sellers of office buildings to yank them off the market. But that's not the case with the owners of the 50-story UBS Tower at 1 N. Wacker. Sources said they are selling the tower for $550 million.
Rreef Funds and Deutsche Bank AG are selling to a real estate fund run by Houston-based Hines Interests LP, the sources said. They said the deal calls for Hines to assume an approximately $215 million mortgage.
Wednesday, February 20, 2008
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