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Carr Properties Increases Ownership in One Congress Office Project
Carr Properties increased its ownership stake to 75% in One Congress, a one-million-square-foot office tower in downtown Boston. The privately held real estate investment trust first invested in the project in a 50-50 joint venture with National Real Estate Advisors in May of 2018. Boston-based HYM Investment Group is serving as local developer on the project.
Located at 1 Congress St., the property is a 600-foot tall office development that will also include upscale food and beverage offerings, a one-acre rooftop garden and panoramic views of the city. Construction on the office tower portion is slated to be completed by the end of 2022.
“We are very pleased to have increased our ownership in One Congress,” said Oliver Carr, CEO of Carr Properties. “We continue to believe that One Congress will be an exceptional addition to the fabric of downtown Boston, and we feel very fortunate to be in partnership with such high-quality firms as National Real Estate Advisors and The HYM Investment Group.”
*Rendering courtesy of Neoscape
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