BOSTON-The joint venture of Normandy Real Estate Partners andFive Mile Capital Partners is finalizing the sale of the iconicJohn Hancock Tower to Boston Properties. GlobeSt.com originallyreported thesale in early October, however the sale closedrecently at $930 million, which accounts for the iconic officetower and 100 Clarendon St., a 2,013 space parking garage.

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The property was purchased for $660.6 million by the jointventure in 2009. After 18 months repositioning the tower, the JVfollowed its plan of turning the property around. The Hancock Towerbecame available when previous owner Broadway Real Estate defaultedon $700 million of debt.

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The 62-story class A office tower is located at 200 ClarendonSt. in the Back Bay district of Boston. It stands at 97% occupancyand boasts panoramic views of the city, as it is the Hub’s tallestbuilding. Cushman & Wakefield's Capital Markets Grouprepresented the seller and procured the buyer. The group iscomprised of Griffin and Edward C. Maher, Jr., as well as WilliamAnderson, Gilbert Dailey and David A. Martel.

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