Robert Kenney, president of Boston Wharf, says the firm is in the process of negotiating the purchase and sale of the properties and expects to close on the deal within the next few days. Boston Wharf, which once owned a portfolio of 79 buildings and more than a dozen other pieces of land, developed the properties in the 1800s after filling in the area around Fort Point Channel.

Representatives from Archon at both the company's corporate headquarters in Irvine, TX and its Boston office did not return phone calls seeking comment. Real estate insiders, however, tell GlobeSt.com that the property is set to be sold to Archon for $93 million. Boston Wharf has been trying to find a partner to redevelop the property for several years and had negotiated with both Lehman Brothers Inc. and the Rockport Group in an effort to take ownership of the buildings.

Boston Wharf tried to sell about 55 buildings to Tishman Speyer Properties of New York City for about $400 million in 2003 but that deal fell through. Portions of the properties have since been sold for a total of $220 million.

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