MARLBOROUGH, MA-Hines Global REIT on Monday said it had acquired the Campus at Marlborough, a four-building, 532,246-square-foot office complex here, in a deal that was first reported this past summer. Along with three interconnected office properties that are 100% long-term leased and an amenity building, the complex also includes a parcel that has been approved for 650,000 square feet of development. Hines will assume property management responsibilities on behalf of Hines Global REIT.

According to Real Capital Analytics, Boston-based Eaton Vance traded the complex to Hines Global REIT for $160.9 million. A spokeswoman for Houston-based Hines confirms a purchase price of $103 million, while an SEC filing also lists the assumption of $57.9 million of debt from Bel Marlborough I LLC and Bel Marlborough II LLC, affiliates of Eaton Vance’s Belrose Capital arm. The debt is through Bear Stearns Commercial Mortgage, carries an interest rate of 5.21% and matures in December 2014. GlobeSt.com reported in July that Belrose and Hines Global REIT had inked a deal for the Campus at Marlborough.

“The Campus at Marlborough is an excellent asset and our second investment in Boston, a market that Hines Global REIT has targeted for investment because of its diverse economy and high-quality, educated workforce,” Charles Hazen, president and CEO of the REIT, says in a release. This past September, the REIT acquired Blueview Corporate Center, a class A office building at 250 Royall St. in Canton, MA, from Inland American Canton Royall LLC; RCA lists the purchase price as $57 million. The three-story, 185,171-square-foot Canton property is fully leased through 2019 to Computershare Ltd. Hines will also assume property management on that asset.

Eaton Vance acquired the Marlborough complex in 2006 for $133.2 million from Berwind Property Group, according to RCA. BPG in turn had paid $57.8 million for the complex in 2002.

The per square-foot purchase price on both the Canton and Marlborough assets—$308 and $302 per square foot, respectively—is at the high end for recent office trades in suburban Boston, according to RCA data. By and large, tenant demand for suburban Boston office properties was flat in the third quarter, says a Q3 report from CBRE/New England, although leasing in the downtown Boston market continued to improve during the quarter.