{"id":1004026329,"date":"2011-02-01T19:18:59","date_gmt":"2011-02-02T03:18:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004026329"},"modified":"2022-12-09T01:40:17","modified_gmt":"2022-12-09T09:40:17","slug":"boston-properties-buys-bay-colony-corporate-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/","title":{"rendered":"Boston Properties Buys Bay Colony Corporate Center"},"content":{"rendered":"<p>February 1, 2011<br \/>\nBy Barbra Murray, Contributing Editor<\/p>\n<p><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004026330\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/bay-colony-corporate-ctr-1-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg\" data-orig-size=\"561,421\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Bay Colony Corporate Ctr. &#8211; 1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg?w=561\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg\" alt=\"\" title=\"Bay Colony Corporate Ctr. - 1\" width=\"300\" height=\"225\" class=\"alignright size-medium wp-image-1004026330\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg 561w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Bay Colony Corporate Center, a 1 million-square-foot premier office park in Waltham, Mass., joins Boston Properties&#8217; stellar portfolio with the completion of the REIT&#8217;s $185 million acquisition of the suburban Boston asset. Talk about a steal of a deal; the asset traded in 2007 for $366 million. <\/p>\n<p>Occupying 58 acres 20 miles west of Boston, Bay Colony consists of four structures developed between 1985 and 1998 and featuring LEED Silver-certified Class A office space, more than 3,000 surface and parking spaces, a fitness center and caf\u00e9s. <\/p>\n<p>The premier property has been part of a game of hot potato over the last several years. Beacon Capital acquired the Bay Colony in 2005 for $272.5 million and sold it to Broadway Partners Real Estate Fund III L.P. for $366 million as part of a $5 billion, 24-property portfolio deal in 2007. The story does not end there. Broadway came face-to-face with the same financial trials that many a real estate company suffered during the credit crunch and in 2009, the company turned over control of Bay Colony to Lehman Brothers Holdings Inc., a lender that had provided Broadway Partners with $459.6 million of bridge mezzanine debt. And before the close of 2009, Eastern Capital Real Estate came into possession of Bay Colony after having acquired a discounted loan position from Lehman Brothers, but there was yet more to the ownership story. In 2010, Bay Colony lender Prudential Financial stepped in and took control of the asset. <\/p>\n<p>Boston Properties picked up Bay Colony by shelling out $41.1 million in cash and assuming a $143.9 million senior mortgage loan carrying a fixed interest rate of 6.53 percent.  <\/p>\n<p>With the closing of the Bay Colony acquisition, Boston Properties has significantly enhanced its already substantial Waltham portfolio, which, prior to the completion of the transaction, consisted of nine office assets. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The million-square-foot premier office park joins the firm&#8217;s stellar portfolio with the completion of the REIT&#8217;s $185 million acquisition of the suburban Boston asset. Talk about a steal of a deal; the asset traded in 2007 for $366 million. <\/p>\n","protected":false},"author":936,"featured_media":1004026330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,21747],"tags":[],"class_list":["post-1004026329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boston Properties Buys Bay Colony Corporate Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Properties Buys Bay Colony Corporate Center\" \/>\n<meta property=\"og:description\" content=\"The million-square-foot premier office park joins the firm&#039;s stellar portfolio with the completion of the REIT&#039;s $185 million acquisition of the suburban Boston asset. Talk about a steal of a deal; the asset traded in 2007 for $366 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-02-02T03:18:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:40:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"561\" \/>\n\t<meta property=\"og:image:height\" content=\"421\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Boston Properties Buys Bay Colony Corporate Center\",\"datePublished\":\"2011-02-02T03:18:59+00:00\",\"dateModified\":\"2022-12-09T09:40:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/\"},\"wordCount\":299,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/02\\\/Bay-Colony-Corporate-Ctr.-1.jpg\",\"articleSection\":[\"Featured\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/\",\"name\":\"Boston Properties Buys Bay Colony Corporate Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/02\\\/Bay-Colony-Corporate-Ctr.-1.jpg\",\"datePublished\":\"2011-02-02T03:18:59+00:00\",\"dateModified\":\"2022-12-09T09:40:17+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/02\\\/Bay-Colony-Corporate-Ctr.-1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/02\\\/Bay-Colony-Corporate-Ctr.-1.jpg\",\"width\":\"561\",\"height\":\"421\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-buys-bay-colony-corporate-center\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Boston Properties Buys Bay Colony Corporate Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\",\"name\":\"Allison Landa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g\",\"caption\":\"Allison Landa\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/allisonlanda\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Boston Properties Buys Bay Colony Corporate Center - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/","og_locale":"en_US","og_type":"article","og_title":"Boston Properties Buys Bay Colony Corporate Center","og_description":"The million-square-foot premier office park joins the firm's stellar portfolio with the completion of the REIT's $185 million acquisition of the suburban Boston asset. Talk about a steal of a deal; the asset traded in 2007 for $366 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-02-02T03:18:59+00:00","article_modified_time":"2022-12-09T09:40:17+00:00","og_image":[{"width":561,"height":421,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","type":"image\/jpeg"}],"author":"Allison Landa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/"},"author":{"name":"Allison Landa","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"headline":"Boston Properties Buys Bay Colony Corporate Center","datePublished":"2011-02-02T03:18:59+00:00","dateModified":"2022-12-09T09:40:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/"},"wordCount":299,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","articleSection":["Featured","News","Office"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/","url":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/","name":"Boston Properties Buys Bay Colony Corporate Center - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","datePublished":"2011-02-02T03:18:59+00:00","dateModified":"2022-12-09T09:40:17+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","width":"561","height":"421"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-buys-bay-colony-corporate-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Boston Properties Buys Bay Colony Corporate Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/0eb45390ae3124c14a919b7ec7bd2249","name":"Allison Landa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1c0d6eca27abba0e62d2fd20a5e74bf2e8f124942225edf677a907fb2c5acef5?s=96&d=mm&r=g","caption":"Allison Landa"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/allisonlanda\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/02\/Bay-Colony-Corporate-Ctr.-1.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004026329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/936"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004026329"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004026329\/revisions"}],"predecessor-version":[{"id":1004621994,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004026329\/revisions\/1004621994"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004026330"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004026329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004026329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004026329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}