Blackstone in Talks With Lenders on Maturing Chicago Office Loan
- The $310 million mortgage was transferred to special servicing
- Kroll cites falling occupancy at building in River North area
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Blackstone Inc. is in discussions with lenders on a $310 million mortgage backed by a struggling Chicago office tower.
The commercial mortgage-backed security on the property, 350 North Orleans, was transferred to special servicing ahead of its July maturity, according to Kroll Bond Rating Agency. Payments on the non-recourse loan are current, KBRA said in report Monday.