Angelo, Gordon & Co.

Next course for LondonHouse developers: Big restaurant deal

Next course for LondonHouse developers: Big restaurant deal

One year after selling the LondonHouse for $315 million, the hotel's developers are ready for dessert.

They're wrapping up a deal to bring a big seafood and steak restaurant to space that they still own in the Michigan Avenue building.

Upscale chain Ocean Prime is planning a 12,000-square-foot restaurant on the second floor of the former London Guarantee & Accident Building, according to sources familiar with the deal.

The Ocean Prime lease, if finalized as expected, would be icing on the cake for developer Oxford Capital Group and its equity partner, Angelo Gordon & Co., which have already cashed in.

In April 2016,...

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