"We think we got a good deal on this building," Peter Merrigan,managing partner at Taurus, told GlobeSt.com. The privateinvestment firm paid $234 per sf. Ten Post Office Square, anotherfinancial district building that recently changed hands, went forjust over $260 per sf.

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The deal, which closed last week, had been in negotiations sincelast March because of a condominium structure in the building thathad four different owners. "What is interesting is we were able tosolve structural issues and consolidate ownership," notes Merrigan.Taurus negotiated multiple sale/leaseback agreements with two ofthe owners, one of which – Price Waterhouse Coopers – took 150,000sf for a three-year lease at a set price. "The lease rate is belowmarket value so it is a good opportunity to increase value once thelease expires," says Merrigan.

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Taurus owns seven other properties in Boston including 22Batterymarch St, 109 to 115 Broad St, 148 State St. and 184 HighSt. A 25,000 sf building at 87 Summer St is currently underagreement.

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