MONTREAL and CHICAGO—Ivanhoé Cambridge andCallahan Capital Properties said Tuesday they hadpartnered on a quartet of four more office acquisitions fromBeacon Capital Partners. The assets includeChannel Center in Boston and 410 17th St. in Denver, along withacquisitions in New York City and Chicago that will close at alater date.

Pricing for the individual assets was not disclosed, butMontreal-based Ivanhoé and Chicago-based Callahan said Tuesday thatthe Boston and Denver properties were acquired for a total of morethan $225 million. Real Capital Analytics data values ChannelCenter, a three-building, 251,394-square-foot complex in Boston'sSeaport District, at $100 million.

The 24-story, 434,740 square-foot Denver property traded toBeacon in 2012 for $81 million, RCA data show. Its previousownership was another joint venture between an Americanorganization and a Canadian one—in this case, MorganStanley and the Toronto-based CPP InvestmentBoard.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.