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Davis Returns to Boston’s Fort Point with Strategic Office Acquisitions
The Davis Companies has acquired a portfolio of four office buildings in Boston’s Fort Point neighborhood from global investment manager Nuveen, in a transaction reportedly valued at $56 million.
The portfolio includes properties at 34, 38, and 44 Farnsworth Street as well as 332 Congress Street. Combined, the buildings total 151,714 square feet of space and are currently 94% leased.
This move marks Davis’ reentry into the Fort Point area, following its previous repositioning and 2015 sale of assets at 24 Farnsworth Street and Tower Point at 27 Wormwood Street. These acquisitions also represent Davis’ first investment in Boston’s office market 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 The Davis Companies. “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.
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