Chicago Sun-Times reports:
Behringer Harvard Multifamily REIT I, based outside of Dallas, said in a federal regulatory filing that it bought the 298-unit Burnham Pointe building at 730 S. Clark. The seller was a unit of Stark Investments, a hedge fund manager based in suburban Milwaukee.
Burnham Pointe opened in 2008 but was in financial trouble throughout its construction period. Its original developer, Terrapin Properties LLC, lost control of the project, and the building was switched from condominiums to rentals.
