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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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