Another German investor buys Boston office asset
Frankfurt, Germany–based Deka-Immobilien Global has purchased the office building located at 175 Federal St. in Boston for $139 million. The seller was Equity Office, an affiliate of The Blackstone Group.
The 17-story office property, also known as the Fiduciary Trust Co. Building, totals 227,365 square feet. It is 90 percent occupied. Major tenants include Fiduciary Trust Co., Winslow, Evans & Crocker, Baker Newman Noyes, and Coughlin Betke.
The German investor also is in contract to purchase the office building located at 70 Franklin St. in Boston for an estimated sales price of $42 million. The seller is Munich-based GLL Real Estate Partners.
Boston, with a total of more than $16.4 billion in sales volume, a 16 percent year-over-year change, had the sixth most active property sales market in 2015, according to RCA’s “Top 40 Markets of 2015,” a position it has held since 2014. During first quarter 2016, the Boston market