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Kushner to sell Loop office tower in Chicago

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Kushner to sell Loop office tower in Chicago

Kushner Cos. LLC is selling the 853,000-square-foot Loop office tower at 225 W. Randolph St. in Chicago to a partnership between Angelo Gordon & Co. LP, AJ Capital Management LLC and a New York venture of former Angelo Gordon executive Ryan Klenovich, Crain's Chicago Business reported, citing a source privy to the matter.

The deal value is unclear, but the property was taken to the market for $315 million in 2014. Controversy surrounded the property seven months ago due to a mortgage Kushner Cos. took out against it, the Oct. 9 report noted.

White House aide Jared Kushner's family company paid $276 million in 2007 to purchase the 30-story building from AT&T in a sale-leaseback transaction, the publication added.