{"id":1004141821,"date":"2016-04-14T01:40:35","date_gmt":"2016-04-14T09:40:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141821"},"modified":"2020-04-15T08:17:25","modified_gmt":"2020-04-15T16:17:25","slug":"german-fund-buys-another-boston-waterfront-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/german-fund-buys-another-boston-waterfront-asset\/","title":{"rendered":"German Fund Buys Another Boston Waterfront Asset"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/p>\n

\"101<\/a>

101 Seaport Blvd., Boston \u00a9 2015 Jeffrey S. Adams<\/p><\/div>\n

Boston<\/strong>\u2014In an acquisition worth $452 million, Union Investment Real Estate GmbH<\/a>\u00a0of Hamburg has purchased from Skanska USA Commercial Development<\/a> the Class A, 440,000-square-foot 101 Seaport Blvd. office building in Boston\u2019s Seaport District, both companies announced Tuesday. Union Investment made the purchase on behalf of\u00a0 its Unilmmo: Europa open-ended real estate fund.<\/p>\n

The building is predominantly occupied by PwC<\/a>, which signed a 15-year lease for 333,000 square feet around the time the building was officially announced by Skanska<\/a>, and has its main Northeast office there.<\/p>\n

Skanska had bought the site at the southeast corner of Seaport Boulevard and Boston Wharf Road in December 2013, for $33 million. Construction on the 17-story building began in fall 2014 and was completed late last year. The property, which also includes roughly 21,000 square feet of retail, is part of the 23-acre master-planned Seaport Square project.<\/p>\n

In addition to PwC, 101 Seaport has long-term leases with Skanska itself and with Red Thread\/Steelcase. The property reportedly is the first office building in Boston to be certified LEED Platinum.<\/p>\n

\u201cSeaport is Boston\u2019s innovation district. It is where the younger, well-educated workforce of the city, who value a central location, excellent transport links and proximity to leisure and cultural venues, want to be. From medical to bio-tech, companies from a huge range of sectors have discovered the many benefits of the location,\u201d Matthew Scholl, head of Investment Management Americas at Union Investment, said in a prepared statement.<\/p>\n

Just last week, Commercial Property Executive<\/a> reported on the purchase by Union Investment, also on behalf of Unilmmo: Europa, of One Lovejoy Wharf in Boston<\/a>, a renovated 235,000-square-foot building occupied by Converse as its headquarters.<\/p>\n

Union Investment\u2019s first acquisition in Boston<\/a> was of the Godfrey Hotel, in a sale-leaseback with Oxford Capital Group LLC and an affiliate of Walton Street Capital LLC, last December.<\/p>\n

Union Investment\u2019s actively managed real estate portfolio in the United States now totals 15 properties worth about $3.8 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

Union Investment Real Estate GmbH forked out $452 million to acquire a Class A office asset in the Seaport District from Skanska USA.<\/p>\n","protected":false},"author":882,"featured_media":1004506942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26289,1490,21743,21808,21825,21783,21742,10,21747],"tags":[],"class_list":["post-1004141821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cpe-weekly-newsletter-article","category-boston","category-deals","category-featured","category-finance","category-investment","category-latest","category-northeast","category-office"],"acf":[],"yoast_head":"\nGerman Fund Buys Another Boston Waterfront Asset - 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\/german-fund-buys-another-boston-waterfront-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German Fund Buys Another Boston Waterfront Asset\" \/>\n<meta property=\"og:description\" content=\"Union Investment Real Estate GmbH forked out $452 million to acquire a Class A office asset in the Seaport District from Skanska USA.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/german-fund-buys-another-boston-waterfront-asset\/\" \/>\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=\"2016-04-14T09:40:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-15T16:17:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/scottttttttttttttttttttttttttttttt.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/german-fund-buys-another-boston-waterfront-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/german-fund-buys-another-boston-waterfront-asset\/\",\"name\":\"German Fund Buys Another Boston Waterfront Asset - 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