Delinquent loan sold on Reschke-controlled building

    Less than two months after buying the Civic Opera Building on Wacker Drive, a New York investor has made another downtown acquisition, this time a delinquent loan of more than $30 million on a historic Loop office tower owned by developer Michael Reschke.

    A venture led by Michael Silberberg, principal at Nanuet, N.Y.-based Berkley Properties LLC, bought the loan on the Roanoke Building, a 35-story tower at 11 S. LaSalle St., from the previous lender, Newport Beach, Calif.-based KBS Capital Advisors LLC, Cook County records show.

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    Less than two months after buying the Civic Opera Building on Wacker Drive, a New York investor has made another downtown acquisition, this time a delinquent loan of more than $30 million on a historic Loop office tower owned by developer Michael Reschke.

    A venture led by Michael Silberberg, principal at Nanuet, N.Y.-based Berkley Properties LLC, bought the loan on the Roanoke Building, a 35-story tower at 11 S. LaSalle St., from the previous lender, Newport Beach, Calif.-based KBS Capital Advisors LLC, Cook County records show.

    Read more.

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