Tishman Takes Loss On $126M Civic Opera Deal

Law360, New York (February 15, 2012, 5:04 PM EST) -- New York commercial real estate giant Tishman Speyer Properties LP appears to have taken a loss on its investment in Chicago's Civic Opera Building after selling the property for $125.8 million, local filings showed Wednesday.

According to Cook County property records, Tishman Speyer sold the 915,000-square-foot West Loop property to a venture led by New York real estate company Berkley Properties LLC. The venture paid roughly $137 per square foot for the Chicago landmark.

The transaction valued the property at roughly $185 million, or more than...
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