|Fifield and Pacific Life Insurance have sold the 350-unit, luxury apartment building Echelon at K Station in the West Loop to Miami-based Crescent Heights for $104.5M. CBRE's John Jaeger and Dan Cohen repped the sellers. The building delivered in '08, but it's already a value-add opp since plenty of other units delivered in 2010 with more luxurious amenties and finishes. It's 95% leased.
Fifield's five-building K Station project broke ground eight years ago.
Left Bank and Echelon are sold, Alta West Tower and Alta East Tower are
leasing, and K2 broke ground in November.|