JPMorgan Chase participates in sale-leaseback of 33 properties
Clients JPMorgan Chase Bank, N.A.
Jones Day represented JPMorgan Chase Bank and its affiliates in connection with the sale of a portfolio of 33 commercial properties containing approximately 5.3 million square feet of space. The properties were located in 10 States and included an office tower in Chicago, Illinois, containing approximately 1 million square feet; the tallest office tower in Phoenix, Arizona, containing approximately 750,000 square feet; and an office tower in Milwaukee, Wisconsin, containing approximately 450,000 square feet. The transaction included leasebacks of all or portions of each of the acquired properties. The sales price for the properties was $460 million and the purchaser was a real estate opportunity fund affiliated with Brookfield Asset Management Inc.