Patriot Equities, a real estate investor and developer based in Wayne, has purchased the building that used to be the Midwest headquarters for Aramark, writes Kenneth Hilario for the Philadelphia Business Journal.

Patriot Equities has bought 2300-2500 Warrenville Road, which is home to two office buildings covering 250,000 square feet in Downers Grove, Ill. This latest acquisition expands Patriot’s footprint in Chicago, adding to the company’s current seven buildings, which total close to one million square feet in the Chicago metropolitan area.

Walker & Dunlop acted as mortgage broker on the deal, and although all the financial terms have not been disclosed, it included a senior loan of $11.2 million. As part of the transaction, Aramark has negotiated a long-term leaseback of 38,000-plus square feet, so that its 150 employees currently working there can remain.

“Aramark is committed to the Chicago land area and will continue to have a presence in Downers Grove, Ill.,” said Aramark’s spokeswoman Karen Cutler. “All that has changed is that we’ve sold our stake in the building and are now simply leasing space within the same building at 2300 Warrenville Road.”

Read more about the acquisition in the Philadelphia Business Journal by clicking here.