Deutsche Bank, NorthStar To Take Over John Hancock Tower

Law360, New York (March 23, 2012, 7:27 PM EDT) -- Deutsche Bank AG and New York-based real estate investment trust NorthStar Realty Finance Corp. are on the verge of gaining control of Chicago's iconic John Hancock Center after reportedly acquiring $218 million in junior loans on the 100-story tower.

The German bank and the distressed real estate-focused REIT have acquired all three pieces of junior debt on the tower, the Journal said. The companies are in talks with special servicer TriMont Real Estate Advisors Inc. to purchase the $182 million in senior debt on the property,...
To view the full article, register now.