Ivanhoé Cambridge, the Caisse de dépôt et placement du Québec’s real estate subsidiary, has acquired two office buildings in Chicago’s West Loop district for more than US$360 million.
The two 21-storey towers, 10 and 120 South Riverside Plaza, add a further 1.4 million square feet of office space to the company’s portfolio. The buildings take up two full city blocks and are located on the west bank of the Chicago River.
“Chicago is one of the key U.S. cities we’ve set our sights on in order to build a solid national high-quality office building platform,” says Adam Adamakakis, executive vice-president, U.S. investments, with Ivanhoé Cambridge.
This new investment in Chicago comes some 18 months after Ivanhoé Cambridge announced the start of construction on the River Point Tower, which is also in the West Loop.
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