"We think Newbury Street and Back Bay retail is still a verysolid place to invest real estate dollars," Abbey Road principalAlan Bates tells GlobeSt.com. The group last summer paid $9.5million for the nearby 123 Newbury St. between Clarendon andDartmouth Streets, the same block as 131 Newbury St.

In the just-completed round, Abbey Road Advisors affiliate AbbeyRoad Back Bay LLC also took over Winston's 569 Boylston St., aroundthe corner from 131 Newbury Street, for $3.8 million, seeding thepurchases with a $7.2 million mortgage from TD Banknorth. AbbeyRoad has been active in the Back Bay since 2005 when it purchasedthe 13-story, 230,000-sf Boylston St. office/retail building for$55 million, an asset the firm and its partner sold for $95 millionin early 2007.

While such an impressive outcome could be difficult toreplicate, Bates says his firm is enthused by the two newinvestments, concurring with other observers that Newbury Streethas a global cache and the mettle to withstand harsh economictimes. "We've had good experiences there, and we think it's still agood market to be in," he says. The Winston deal was an off-markettransaction brought to Abbey Road by Dartmouth Co. broker SamHawkey, whom Abbey Road has dealt with since 399 Boylston St. Thebroker "really knows what we are looking for," Bates said, notingthat Hawkey also negotiated the 123 Newbury St. deal.