Joint venture sells Chicago tower

A joint venture between VEF Advisors LLC, an affiliate of Apollo Real Estate Advisors L.P., and JBC Fund I of The John Buck Co. have sold a 1.1-million-square-foot office tower in Chicago.

Boston-based Beacon Capital Strategic Partners III LLC acquired the property for an undisclosed price.

The property, 222 S. Riverside Plaza, comprises 35 stories and was built in 1971. The property has undergone extensive renovations and was 92 percent leased at sale, with lead tenants including Deutsche Bank, Synovate and Contigroup Cos.

Apollo Real Estate Advisors is a privately held investment firm founded in 1993.

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