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Carr Properties Takes 50% Stake in Downtown’s 75-101 Federal St.
NKF arranged the sale of a 50% interest in the Rockpoint Group’s 75-101 Federal St. in downtown Boston to Carr Properties. Although financial terms weren’t disclosed, the Boston Business Journal reported that Carr paid $242.5 million for its stake.
An NKF team of Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of NKF’s Boston Capital Markets group oversaw the transaction. Comprising two interconnected 21- and 31-story towers, 75-101 Federal St. encompasses 853,319 square feet of office, retail and amenity space, complemented by a 175-space, below-grade parking garage.
Rockpoint acquired the 75-101 Federal complex for $326.5 million in 2015. It has completed significant capital improvements at the property in recent years.
“75-101 Federal St. is one of Boston’s most recognizable and architecturally significant business addresses,” said Maher. “The property offers an exceptional combination of recent capital improvements, tangible upside potential and a superior location.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
