DivcoWest Land Deal Puts Northpoint Project Back on Radar


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DivcoWest maintains its Boston office at One Kendall Square in Cambridge, MA.

CAMBRIDGE, MA—The planned mixed-use development on property known as Northpoint could break ground in the near future now that the 42-acre master planned parcel has been sold to San Francisco-based real estate investment and management firm DivcoWest.

The property changed hands for a reported purchase price of between $291 million and approximately $300 million, which would make the deal one of the most expensive development site transactions in years in Greater Boston. The property, which includes a few residential buildings, has received all necessary approvals for the development of approximately 4.5 million gross square feet, including 2.4 million gross square feet of residential and 2.1 million square feet of commercial space. The property was sold by Los Angeles-based Canyon-Johnson Urban Funds and its development partner, the HYM Investment Group, LLC of Boston, which had acquired the property in 2010…

DivcoWest Land Deal Puts Northpoint Project Back on Radar

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