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CIM Group lands $123M loan for Chicago office building purchase

CIM Group LP secured a $123 million loan from Blackstone Group LP to fund the $138 million purchase of a 36-story office building at 444 N. Michigan Ave. in Chicago, The Real Deal reported.

A venture led by CIM had agreed to purchase the 515,000-square-foot building from Germany-based investor GLL Real Estate Partners GmbH.

The loan deal was signed Dec. 21, 2018, along with the acquisition, the Jan. 3 report added, citing Cook County property records.

CIM did not immediately return a call for comment on the matter, the publication added.