Apr
16
Boston’s Center Plaza Commands $365M
BySynergy Investments and GreenOak Real Estate are the new owners of the 741,200-square-foot office and retail property, which comprises three interconnected buildings near Boston City Hall.
Center Plaza, a 741,200-square-foot mixed-use property with a distinctive curved shape located across from Boston City Hall, is under new ownership. Synergy Investments and GreenOak Real Estate acquired the asset from Shorenstein Properties LLC for $365 million.
Center Plaza, a 741,200-square-foot mixed-use property with a distinctive curved shape located across from Boston City Hall, is under new ownership. Synergy Investments and GreenOak Real Estate acquired the asset from Shorenstein Properties LLC for $365 million.
Shorenstein paid $307 million when it bought Center Plaza from Equity Office Properties Trust on Dec. 31, 2013. Since 1992, Shorenstein has sponsored 11 closed-end investment funds with total equity commitments of $7.9 billion. It acquired Center Plaza on behalf of its 10th fund, Shorenstein Realty Investors Ten LP, formed in 2010 with $1.2 billion of committed capital, according to a Commercial Property Executive report…
