In brief: Penny Pritzker | AOL | Northwestern Memorial
New Penny Pritzker fund raises $61 million
An investment fund co-founded by Penny Pritzker has raised $61 million, according to a filing with the Securities and Exchange Commission. Artemis Real Estate Partners Fund I L.P., which is based outside Washington, D.C., will target distressed properties and debt. The first investor committed to the fund Aug. 24, and the minimum amount accepted from outside investors is $10 million, according to the document filed Thursday.
AOL at Illinois Center; Sagent expands in Schaumburg
AOL Inc. signed a seven-year lease at 233 N. Michigan Ave. in the Illinois Center complex, one of two deals announced recently by landlord Parkway Properties Inc. AOL has taken 19,457 square feet on the 11th floor, according to CoStar Group Inc. The lease starts Nov. 20, according to Jackson, Miss.-based Parkway. AOL is leaving 12,600 square feet at the John Hancock Center, 875 N. Michigan, according to CoStar. In the other deal, Sagent Pharmaceuticals Inc. renewed its lease and expanded its headquarters at 1901 N. Roselle Road in northwest suburban Schaumburg. Sagent is increasing its space to 19,966 square feet, up from 14,145, according to CoStar. The company extended its lease about 4½ years, through December 2016, Parkway says.
CB Richard Ellis to manage hospital facilities
Northwestern Memorial Hospital is outsourcing its facilities management to CB Richard Ellis Inc., a spokeswoman for the Chicago office of the real estate firm confirms, declining further comment. The medical giant has an eight-building campus in Streeterville, anchored by the 2-million-square-foot main hospital, 251 E. Huron St. How many buildings are included in the assignment, and how many hospital employees would be affected by the move, could not be determined. A spokeswoman for the hospital couldn't be reached for comment.
Hyatt union workers stage walkout at O'Hare hotel
Union workers at the Hyatt Regency O'Hare staged a strike beginning early Friday, according to a press release from Unite Here, which represents hotel workers in Chicago. The move is part of a “wave” of demonstrations this week against Hyatt and its “billionaire ownership family,” the Pritzkers, according to Unite Here's release. Chicago-based Hyatt Hotels Corp. in a statement says it's negotiating in “good faith” for a new contract, while saying the union's leadership “clearly prefers to focus its energy on disruptive tactics.” The union says there will be protests this week against Hyatt in 10 U.S. and Canadian cities. Locally, the contract for some 8,000 Chicago-area union workers expired Aug. 31, 2009, and Unite Here has recently amped up its activity against Hyatt and other local hotels. About 200 union workers walked off the job for a short time Tuesday at the Sheraton Chicago Hotel & Towers and picketed in front of the Streeterville hotel.
