Deals
Irvine Co. Said to Pay $625 Million for Hyatt Center
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Irvine Co. said it purchased Hyatt Center, a 48-story office tower in downtown Chicago, from the Pritzker family. The price was $625 million, according to a person with knowledge of the transaction.
The 1.5 million-square-foot (139,000-square-meter) tower on Wacker Drive was developed by Pritzker Realty Group, founded by Penny Pritzker in 1991 to oversee her family’s non-hotel properties, Newport Beach, California-based Irvine Co. said in a statement today. The person with knowledge of the deal isn’t authorized to disclose the price and asked not to be identified.