CHICAGO — A joint venture between Beacon Investment Properties and an investor account advised by UBS Global Asset Management has acquired 20 North Clark, a 35-story office tower in Chicago, for $63 million. The seller was a joint venture between the Multi-Employer Property Trust (MEPT) and Hamilton Partners of Chicago, which was advised by Bentall Kennedy. Located on the northeast corner of Clark and Madison streets in downtown Chicago’s Central Loop, the 393,094-square-foot, Class B+ building, was 83 percent occupied at the time of sale. Susan Hill, senior managing director at HFF, arranged the acquisition financing, a four-year loan totaling 75 percent of the purchase price. General Electric Capital Corp. provided the loan. Paul Lundstedt and Mike Vesper, vice presidents in CBRE’s investment properties institutional group, represented MEPT and Hamilton Partners. Ron Lakin and Rachel Waymire of CBRE’s brokerage services group will serve as the leasing agents for the property.
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