---
title: "Morgan Stanley-Led Group to Sell Chicago Parking Meter Lease to Stonepeak"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286828252.md"
description: "Morgan Stanley has agreed to sell its lease of Chicago's parking meters to Stonepeak, pending City Council approval. The lease, originally sold in 2008 for $1.15 billion, has faced criticism due to rising parking rates. Financial terms of the new deal were not disclosed."
datetime: "2026-05-18T23:07:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286828252.md)
  - [en](https://longbridge.com/en/news/286828252.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286828252.md)
---

# Morgan Stanley-Led Group to Sell Chicago Parking Meter Lease to Stonepeak

07:07 PM EDT, 05/18/2026 (MT Newswires) -- Morgan Stanley ( MS ) has agreed to sell its lease of Chicago's parking meters to investment firm Stonepeak, Bloomberg reported on Monday, citing Mayor Brandon Johnson's office.

The transaction remains subject to Chicago City Council approval, with an ordinance expected to be introduced this week, according to Bloomberg.

Financial terms were not disclosed.

The parking meter lease was originally sold in 2008 for $1.15 billion under then-Mayor Richard M. Daley to a consortium led by Morgan Stanley ( MS ) that included Allianz Capital Partners and the Abu Dhabi Investment Authority.

Bloomberg reported that the 75-year lease, which expires in 2084, has long faced criticism as parking rates across Chicago rose sharply following the deal.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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