"The location of this portfolio of properties, along with thelong-term potential to maximize future development, makes thisacquisition a very attractive opportunity for Berkeley," says RickGriffin, vice president of acquisitions for Berkeley, in astatement. "South Boston's waterfront, specifically the Fort PointDistrict, is emerging as an up-and-coming neighborhood and we lookforward to being a key player in this transformation."

The portfolio consists of 12 offices totaling 700,000 sf, alongwith two parking garages and four surface parking lots with spacefor nearly 1,000 cars. The office buildings are mostly clustered atthe intersection of Congress and Farnsworth, and are 332, 348, 354,368, 374 and 381 Congress St.; 12, 33, 34, 41, 44 Farnsworth St.,and 22 Boston Wharf Rd. Don Hause of GVA Thomson Doyle Stevensrepresented the seller and procured the buyer.

Berkeley's preliminary long-term plans for the property includeupgrading the space, amenities and services for the newer orrecently rehabbed properties, and to convert the older assets intoupscale condominiums or higher-quality office space. Berkeley isalso exploring opportunities to convert the ground floors of someof the older buildings into upscale restaurants, entertainmentvenues and retail.