ASB and Lincoln sell office building for $210m

ASB Real Estate Investments has sold Two Financial Center for $210 million to Nan Fung Life Science Group.

ASB and its partner, Lincoln Property Co., developed the 220,000-square-foot, 12-story office building for $120 million, completing the project in 2009. The sale by ASB was made on behalf of its Allegiance Real Estate Fund, a $7.4 billion core vehicle.

Located at the intersection of Essex and South streets, Two Financial Center is regarded as one of Boston’s leading boutique class A office buildings and is 100 percent leased to KPMG as well as a diverse array of other tenants. The building features floor-to-ceiling windows and a recently completed state-of-the-art rooftop deck. Brodie Ruland, ASB managing director and co-head of acquisitions, said, “The sale not only realizes a significant investment gain for ASB investors, but also fits into ASB’s ongoing strategy to selectively reduce exposure to office and retail assets, while we increase investment