A federal judge has ordered Chinese investment conglomerate HNA International to hand over its interest in the 50-story office tower at 181 W. Madison St. in Chicago’s Loop to SL Green Realty Corp., New York’s largest office landlord, last week. This ruling is meant to help resolve an unpaid $185 million judgment against HNA as it works through bankruptcy proceedings.
The 33-year-old Loop tower would be the only office property owned by SL Green, a REIT best known for its Manhattan buildings if acquired successfully from HNA who paid $355 million for it back in 2017 and put up for sale shortly after before refinancing late 2019 instead of trading hands with another party.
