White & Case Advises PWM Property Management and 181 West Madison Property on the Sale of 181 West Madison Street Office Tower

Global law firm White & Case LLP has advised PWM Property Management LLC and 181 West Madison Property LLC on the sale of the commercial office tower located at 181 West Madison Street in Chicago, Illinois.

The transaction transferred 100 percent of the membership interests in 181 West Madison Property LLC to SinOceanic I Limited, which assumed the existing US$240 million mortgage loan previously incurred by 181 West Madison Property LLC with certain modifications. The transaction closed on August 31, 2023 and was pursuant to a chapter 11 plan confirmed by the Bankruptcy Court for the District of Delaware.

The White & Case team was led by Financial Restructuring and Insolvency partners Thomas Lauria (Miami), Bojan Guzina and Gregory Pesce (both in Chicago), M&A partner Adam Cieply (New York), Real Estate partner Eugene Leone (Chicago), Tax partner Scott Fryman (New York) and Commercial Litigation partner Jason Zakia (Chicago). The team also included Financial Restructuring and Insolvency counsel Fan He (Miami), and associates Livy Mezei, Barrett Lingle, Lauren Lundy (all in New York), Maria Protic and Reed Rogan (both in Chicago); M&A associates Jane Kim, Anthony Mahler (both in New York) and Pankti Vora (London); Real Estate associate Christian Berger (New York); and Tax associate Neil Clausen (Houston). Law clerks Julia Garcez and Dominic Gattuso also assisted on the matter.

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