December 8, 2009 / 6:58 AM / 10 years ago

Tishman, NY Fed in talks on Chicago loans-report

Dec 8 (Reuters) - Real estate private equity firm Tishman Speyer Properties is in talks with the Federal Reserve Bank of New York to restructure loans on a portfolio of downtown Chicago office towers, Bloomberg reported.

The Federal Reserve Bank said it holds a ‘debt position’ in the buildings which it had inherited after assisting in the sale of Bear Stearns Cos last year, the news agency said.

New York-based Tishman Speyer bought the Chicago buildings from an affiliate of Blackstone Group (BX.N) for $1.72 billion in 2007.

Tishman Speyer and the Federal Reserve were not immediately available for comment. (Reporting by A.Ananthalakshmi in Bangalore; Editing by David Holmes)

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