
Beacon, Allianz buying Boston’s Exchange Place from UBS for $850M+
Beacon Capital Partners and German insurer Allianz are acquiring Exchange Place in Boston from UBS Investments for a price expected to exceed $850 million. The 40-story, 1.13-million-square-foot, Class A office tower is located in Boston’s Financial District.
The high sales price, which would work out to roughly $747-per-square-foot, reflects the demand for top quality, well-leased assets in a tight market. Cushman & Wakefield recently inked a 75,000-square-foot lease with the Boston Globe. UBS paid $600 million for the property at 53 State St. in December 2011.
NKF Capital Markets’ team handling the Exchange Place listing is led by Robert Griffin Jr., Edward Maher Jr. and Matthew Pullen, along with James Tribble and Samantha Hallowell.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition