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Transactions - MARCH 18, 2014

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IN-DEPTH: Chinese asset manager partners on Chicago office purchase

by Andrea Waitrovich

Hong Kong–based Cinda Capital Management has partnered with Zeller Realty Corp. to purchase 311 S. Wacker Drive in Chicago. Here’s an in-depth look at the deal.

 

THE DEAL

The sellers of the 1.3 million-square-foot office building were Fremont Real Estate Partners II, a $500 million opportunistic fund managed by Fremont Group, Shorenstein Properties and 601W Cos. Eastdil Secured represented the sellers.

The sales price was $304 million. Cinda holds a 70 percent stake in the property while Zeller ho

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