300 South Riverside Plaza Trades for $190M

CHICAGO-A group of private investors led by Joseph Mizrachi and David Werner has acquired 300 South Riverside Plaza, a trophy office building in the city’s West Loop submarket, for $190 million. Brookfield Real Estate Opportunity Fund sold the 1.1-million-square-foot tower after owning it for roughly four years.

The new owners obtained a senior leasehold mortgage of $120 million from UBS to acquire the 23-story tower, which located is directly across the street from Union Station and three blocks south of Ogilvie Station, Chicago’s busiest commuter train station. With a glass curtain wall that offers magnificent views along the Chicago River, 300 South Riverside Plaza is 97% leased primarily to credit and institutional tenants.