Waterton is buying the 600-unit North Harbor Tower apartment high-rise in Lakeshore East.
It is the third such Downtown building that the seller, Crescent Heights, is unloading, joining two others in the South Loop, according to Crain’s.
The selling price was not disclosed, but Miami-based Crescent Heights bought the 55-story tower in 2016 for $237 million.
Chicago-based Waterton, which owns the Presidential Towers apartment complex in the West Loop, has a $920 million pot in its latest multifamily investment fund that gives the company the ability to buy more than $2.5 billion in apartments.
Crescent Heights, meanwhile, is in the process of selling the 332-unit Lex apartment building near McCormick Place and the 344-unit Park Michigan at Roosevelt and Michigan.
Chicago-based Horizon Realty Group has agreed to buy the Park Michigan.