Crescent Heights Lands Chicago Tower For $66M

Law360, New York (December 8, 2011, 3:53 PM EST) -- Real estate services company CBRE Group Inc. on Thursday reportedly helped developer Crescent Heights close on the acquisition of a 30-story apartment building in downtown Chicago for $66 million.

Crescent Heights bought the tower at 1212 S. Michigan in Chicago’s South Loop neighborhood from DV Urban Realty Partners I LP, which had acquired the 344-unit building in 2006 for $65 million, GlobeSt.com reported.

A spokeswoman for CBRE Group Inc. declined to comment.

Miami, Fla.-based Crescent Heights has had a busy season. Last month, the real estate...
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