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In a market weathering unprecedented change, companies involved in high-stakes real estate deals need a steady, trusted hand to guide them. They also need counsel who can help them find new solutions for tough new challenges. The Paul, Weiss Real Estate Department offers clients the best of both worlds. Our long history of executing every kind of deal touching real property and our business and legal savvy help the most complex real estate projects succeed in fluctuating economic conditions.

CIM Group Sells Stake in Chicago’s Marquee at Block 37

Paul, Weiss advised CIM Group, L.P. in the sale of its majority interest in the Marquee at Block 37, a 690-unit high-rise apartment tower in downtown Chicago, to a Canadian investor group, Morguard North American Residential REIT. The all-cash transaction, which closed on December 9, values the 34-story luxury building at $265 million. Paul, Weiss earlier advised CIM in the construction financing and the permanent financing for the apartment tower.

The Paul, Weiss team included real estate partner Harris Freidus and tax partner David Mayo.

December 9, 2019

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