Golub defaulted on its debt and the building was acquired in 2012 by Deutsche Bank who subsequently carved up the building. The venture of Deutsche Bank and New York-based NorthStar Realty Finance paid an estimated $325 million for debt on 875 North Michigan Avenue in 2012 after Shorenstein Properties defaulted on $400 million in loans. The observation deck was sold to Paris-based Montparnasse 56 Group for between $35 million and $45 million in July 2012. That same month, Prudential Real Estate Investors acquired the retail and restaurant space for almost $142 million. In November 2012, Boston-based American Tower Corp affiliate paid $70 million for the antennas. In June 2013, a venture of Chicago-based real estate investment firm Hearn Co., New York-based investment firm Mount Kellett Capital Management L.P. and San Antonio-based developer Lynd Co. closed on the expected acquisition of 875 North Michigan Avenue's 856,000 square feet of office space and 710-car parking deck. The Chicago firm did not disclose a price, but sources said it was about $145 million. This was the last step in that piecemeal sale process. In May 2016, Hearn Co. announced that they were seeking buyers for the naming rights with possible signage rights for the building.