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...
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