Broe, Chicago Reach Early Deal For $500M Port Project

Law360, New York (July 23, 2013, 1:56 PM EDT) -- Broe Group, a private equity-backed Colorado developer, is taking the helm of a $500 million port revitalization project in Chicago through a property lease deal as part of the city’s next step toward making the harbor area profitable again, according to a Sunday statement.

Under a preliminary deal reached Sunday, Broe will lease the port for a 62-year term and will invest $500 million into upgrading the facilities within the first decade, according to the statement. Specific terms of the lease and of Broe’s plans were...
To view the full article, register now.