Home Latest News Wanda sells majority interest in Vista Tower to Magellan

Wanda sells majority interest in Vista Tower to Magellan

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Aerial View of Vista Tower
Aerial View of Vista Tower (Image from Magellan)

Wanda Hotel Development Co., a unit of Chinese billionaire Wang Jianlin’s business empire, plans to sell its 90% stake Chicago’s Vista Tower to help it cut its debt to Illinois-based Magellan Parcel C/D LLC, which currently owns the remaining 10 percent.

The subsidiary of Dalian Wanda Group Co., Wang’s retail-to-entertainment conglomerate, will sell its holdings in the hotel-and-residential development.

The 101-story Vista Tower, which will be the city’s third tallest building when it is completed this year, is Wanda’s last overseas project.

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