Transactions - JANUARY 6, 2022

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Ascentris, Sterling Bay form development JV for residential tower in Chicago

by Andrea Zander

Ascentris and Sterling Bay form joint venture to develop 160 N Morgan, a class A residential tower with ground-floor retail in Fulton Market.

The joint venture combines Sterling Bay’s track record for success in developing world-class, experiential spaces with Ascentris’ expertise in luxury multifamily real estate investment, strengthening both partners’ ability to expand their footprints in Chicago’s residential real estate market.

“Sterling Bay is pleased to partner with Ascentris to bring a new standard for residential development to Chicago’s top-performing submarket, Fulton Market,” said Andy Gloor, CEO of Sterling Bay. “The city is experiencing a boom in modern, highly amenitized residential development, a niche that Sterling Bay has become known for in its development of future-forward spaces like McDonald’s Global Headquarters and Google’s Midwest Headquarters. Forming a joint venture with Ascentris now allows us to access their team’s dec

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