RESTON, VA-Boston Properties Inc. has created a joint venture to purchase Fountain Square, a mixed-use property in Reston. The Boston-based REIT formed the joint venture on July 13 to acquire the 811,000-square-foot property valued at $385 million.
The properties, One and Two Fountain Square, are located on Freedom Drive and are owned by Beacon Capital Partners. In the deal, Boston will provide $87 million for a 50% interest in the partnership and its partner will provide the properties and $211.3 million in mortgage debt. For the full story, go to Washington Business Journal .
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