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Boston & New England  + Boston  + Office  | 

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. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Sale/Acquisition