Fort Point Offices Sell for $15M After Loan Trouble 

An affiliate of Slater Family Holdings has acquired an eight-story office building on Summer Street in Boston for $15 million, Boston Business Journal reported. The purchase comes after the previous owner handed over the property to its lender, M&T Bank, through a deed in lieu of foreclosure.  

The building, located at 268 Summer St., was acquired from an affiliate of Aegean Capital, and the outstanding balance on the mortgage was $28.4 million. The 76,400-square-foot property is largely unoccupied, with only about 35% to 40% leased. Sam Slater, the buyer, sees an opportunity to enhance the building’s performance and plans to offer more attractive rents due to the discounted purchase price.