Clarion Closes on $129M Boston Office Buy

BOSTON-Clarion Partners has closed on its $129.3-million acquisition of a six-property, 407,458-square-foot office portfolio in Boston’s Seaport District, acquiring it from a joint venture of Angelo, Gordon & Co. and National Development. Clarion acted on behalf of a separate account client of the firm, while HFF handled the sale on behalf of the sellers.

The portfolio includes the 64,204-square-foot 263 Summer St., the 94,314-square-foot 33-41 St., 34 Farnsworth St. at 24,378 square feet, 44 Farnsworth St. at 93,824 square feet, 332 Congress St. at 34,412 square feet and 374 Congress St. at 96,236 square feet. All were originally constructed for manufacturing and warehouse uses, and have been converted into office use thanks to major capital improvements. They’re currently 96% occupied, says Clarion; a release from the firm also points out that the Seaport is currently Boston’s fastest-growing submarket.