Big Change at Lakeshore East Developer

From Crain’s Chicago Business: “The next generation is taking over at Magellan Development Group, the Chicago developer behind the Lakeshore East project and its newest skyscraper, Vista Tower. … A pair of new investors, New York-based Winter Properties and BLG Capital Advisors of Chicago, have bought out the two co-founders, acquiring a 50 percent stake in Magellan, with plans to expand the company into more U.S. markets.”

“This partnership exemplifies our current focus on building relationships with companies like Magellan that have compelling, innovative and scalable growth strategies.”

Rick Singer, President of Winter Properties

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