Fundamental Income Acquires Tao Chicago; 126-Year-Old Historical Building
Summary
Originally built in 1892 and redeveloped in 2018 by Sterling Bay, 632 N. Dearborn is a multi-story, historical landmark featuring a 275-seat dining area, separate nightclub, private dining rooms, five custom-designed bars, two DJ booths and a 16-foot Quan-Yin statue standing within a koi pond. “While our focus remains middle-market sale leasebacks and the acquisition and development of company-owned, mission-critical real estate, we will continue to opportunistically acquire marquee assets with in-place leases and industry leading operators like Tao,” said Alexi Panagiotakopoulos, Chief Investment Officer and Partner at Fundamental Income. Fundamental Income Properties is a Phoenix-based net lease real estate platform backed by Brookfield Asset Management (NYSE: BAM). Sterling Bay is a leader in creating urban campus headquarters for prominent companies such as Google, McDonald’s, Uber, Glassdoor, Dyson, Hillshire Brands, and Pinterest. Today, Sterling Bay maintains a $5 billion real estate portfolio and a rapidly growing, passionate team of more than 200 employees.