CAMBRIDGE, MA-New Boston Fund has sold an office property located at 70 Fawcett St. in Cambridge to an investment fund managed by New York-based O'Connor Capital Partners for $13.6 million. The company purchased the two-story, 141,000-square-foot office building in May 2003 and borrowed an $18.4-million mortgage two years ago to redevelop the site and purchase an adjacent building at 55 Wheeler St.
O'Connor has received approval to convert the 70 Fawcett St. property into a 429-unit apartment community. For the full story, go to Boston Business Journal .
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