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Davis Returns to Boston’s Fort Point with Acquisitions from Nuveen
The Davis Companies has acquired a quartet of office buildings in Boston’s Fort Point neighborhood from global investment manager Nuveen, reportedly for $56 million. The portfolio, consisting of 34, 38 and 44 Farnsworth St. and 332 Congress St., totals 151,714 square feet and is currently 94% leased.
The deal marks Davis’ return to the Fort Point neighborhood following the repositioning of 24 Farnsworth St. and Tower Point at 27 Wormwood St., which it sold in 2015. Moreover, these acquisitions mark Davis’ first investment in Boston office assets in nearly a decade.
“For 50 years, Davis has invested in Boston, driven by our longstanding belief in the resiliency and durability of our city’s commercial base,” said Stephen Davis, president of Davis. “Fort Point is one of Boston’s most dynamic mixed-use neighborhoods. We are excited to have the opportunity to return at this moment of historic asset valuation resetting, to further strengthen an already well performing portfolio and to add to the outstanding offerings in the area.”
Photo courtesy of Nuveen.
- ◦Sale/Acquisition
