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Report: Glenstar JV strikes deal to sell Chicago office complex for $148M

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Report: Glenstar JV strikes deal to sell Chicago office complex for $148M

A joint venture of commercial real estate company Glenstar Properties LLC and PGIM Real Estate agreed to sell the 835,000-square-foot Presidents Plaza trophy office complex in Chicago to Angelo Gordon & Co. LP for $148 million, Crain's Chicago Business reported.

The property comprises two 12-story buildings at 8600 and 8700 W. Bryn Mawr Ave.

Glenstar, which leases the buildings, will keep a minority stake in the property, the report noted, citing Real Estate Alert.

According to the report, an Angelo Gordon spokesman did not offer a comment, while spokesmen for the ownership companies could not be reached for comment.