Parkway Properties, Inc. (NYSE:PKY) recently announced that it has entered into an agreement to sell 111 East Wacker Drive in Chicago, IL for approximately $150.6 million. The transaction is expected to close by the fourth quarter of 2011.
111 East Wacker is a 1.0 million square foot office property located in downtown Chicago. The property currently serves as the collateral for a $148.5 million non-recourse mortgage loan with a fixed interest rate of 6.3% and expected to mature in July 2016.
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