SAN FRANCISCO-Boston Properties Inc., a real estate investment trust based in Boston, has raised roughly $79 million to help finance its acquisition of an office and retail project in the South of Market Street (SoMa) neighborhood of San Francisco. The REIT paid $62.2 million and issued 1.6 million shares of preferred stock to Rockwood Capital and TMG Partners to assume control over the SoMa project.
Boston Properties also signed an agreement to take hold of $170 million construction loans on the project. For the full story, go to Boston Business Journal .
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