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Chicago & Midwest  + Downtown  + Hospitality  | 

Wanda Reportedly Talking Sale of Vista Tower Stake

Dalian Wanda Group is in talks to sell its majority stake in the Vista Tower project to Edmonton, Alberta-based Triple Five Group, the Chicago Tribune reported, citing sources said to be familiar with the talks. When completed, the 101-story residential condominium and hotel tower will be Chicago’s third-tallest building.

The Tribune cited pressure from the Chinese government on Wanda and other Chinese firms with large real estate holdings to sell off overseas properties. That would help explain why the company, which is Magellan Group’s investment partner in the $1-billion Vista Tower project, is looking to sell its stake some two years before the property’s scheduled completion.

A deal with Triple Five, owner of the supersized West Edmonton Mall and Mall of America, is not a certainty. However, the Tribune reported that Wanda has been restructuring and selling off other investments, including its $600-million stake in theater chain AMC Entertainment.


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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 13-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 15-20 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).

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