Boston

The transaction was executed at an approximate 7.86% initial capitalization rate with rents of $34.2 million and a weighted average remaining lease term of 8.7 years.

The six-story, 151,235 square-foot project will include a 212-room hotel and three street level restaurant/retail spaces totaling 12,711 square feet.

"Northerners and other homebuyers are not just purchasing second homes; they are bringing businesses and moving here full time," says MIAMI Chairman of the Board José María Serrano.

"'Mission' is the mission," says KeyBank Real Estate Capital SVP Dirk Falardeau as he breaks it all down for GlobeSt.com readers.

The transaction serves as the firm's largest real estate portfolio acquisition to date.

The company will occupy 10,600 square feet at Related Beal's eight-story 286,000-square-foot office building. Motif FoodWorks is expected to take occupancy in June 2020.

The 143-room hotel property, built in 1891, was sold by institutional clients managed by Barings, which is headquartered in Charlotte, NC.

CBRE managed planning, site selection, procurement, preparation, landlord approvals, permitting, installation, activation and closeout at 215 workplace and multifamily buildings across 11 states.