Elgin office complex sells to new Canadian REIT for $26.5 million

    In an all-Canadian deal, an Elgin, Ill. office complex housing a J.P. Morgan Chase & Co. operations center changed hands on Friday for $26.5 million, another sign of how investors from our neighbor to the north are scouring the Chicago market for deals.

    Brookfield Asset Management Inc. sold the 515,313-square-foot Westfield Business Park to a venture led by Adventus Realty Partners LLP, a newly formed real estate investment trust making its first acquisition, said Jeet Pangli, president of Vancouver-based Adventus. The venture financed the deal with a $20 million loan from Fairfield, Conn.-based General Electric Capital Corp.

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