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Kushner Reportedly Cuts Deal to Sell Loop Tower

A group led by Angelo, Gordon & Co. has reached a deal to acquire 225 W. Randolph St. from the Kushner Companies, Crain’s Chicago Business reported. The pricing on the 853,000-square-foot office tower is not clear. Kushner paid $276 million to acquire the Loop property from AT&T in a 2007 sale-leaseback, then asked $315 million in 2014.

In the interim, the property made headlines last March when a New York Times article raised questions about potential conflicts of interest. Kushner refinanced 225 W. Randolph with a $184-million loan from Apollo Global Management, after an Apollo executive held meetings at the White House with Jared Kushner, formerly Kushner Companies CEO and now senior adviser to his father-in-law, President Donald Trump.

Spokespeople for both Kushner Companies and Jared Kushner denied any connection between the meetings and the loan.

AT&T’s lease for 670,000 square feet is due to expire in 2022, Crain’s reported.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition