BOSTON-Broadway Partners is close to selling 200 State St., a 300,000-sf, 16-story office building in the financial district here to Germany-based GLL Real Estate Partners, industry sources tell GlobeSt.com. The property, which GlobeSt.com reported was on the market in May, changed hands for $141 million in 2005 and is reportedly selling for under $200 million.
Representatives for both Broadway Partners and GLL declined to comment on the deal. Apparently a contract has not yet been signed on the building, but the transaction is getting closer.
Broadway Partners got the asset last year as part of a $5-billion portfolio acquisition from Beacon Capital Partners. Two hundred State St. also has a retail component that was acquired by an Ireland-based investment firm in 2005 for $51 million.
New York City-based Broadway Partners has sold many high-profile assets of late. In June it disposed of One City Center in Houston for $131 million. It is also reportedly selling the Citigroup Center in Downtown San Francisco for $370 million.
GLL, based in Munich, has US offices in Orlando, FL and in Walnut Creek, CA. In January the company brought in PNC Realty Investors as a joint-venture partner at its $260-million 199 Freemont St. in San Francisco.
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