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REA
April 11, 2018  

GEM Lands Stake in Illinois Offices

GEM Realty has agreed to buy a majority interest in a suburban Chicago office building.The transaction values the 339,000-square-foot Orrington Plaza, in Evanston, Ill., at about $91 million, or $268/sf.Investcorp currently owns the property in partnership with Golub & Co. Investcorp is cashing out, and Golub will retain a minority interest and continue as the operator. The exact size of the stake being acquired by GEM, a Chicago fund operator,...


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