Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

BOSTON-In one of the largest real estate deals ever in New England, San Francisco-based Rreef has closed on a $507-million acquisition of a 47-building commercial portfolio totaling more than four million sf. CrossHarbor Capital Partners was the seller.The buildings, located in Massachusetts, Connecticut, New Hampshire, and Maine, include office, R&D and warehouse properties. Most are located in Greater Boston. Included in the portfolio are the Andover Technology Center, Cedar Hill Business Park in Marlborough, Raynham Woods Corporate Center and Point West Place in Framingham.

Robert Griffin, president of Cushman & Wakefield of Massachusetts Inc., which represented CrossHarbor and brought the buyer to the table, tells GlobeSt.com that the transaction drew at least five other bidders ranging from 1031 investors to institutional buyers.

“They’re (Rreef)a very strong player and are considered to be one of the best players in the market place,” says Griffin. “The seller felt very comfortable with them.”

David I. Begelfer, chief executive of the Massachusetts chapter of the National Association of Industrial and Office Properties, tells GlobeSt.com that the transaction reflects the strength of the Bay State’s investment market. “We’re really talking about a lot of buyers out there, and in some markets, a limited product. That is why Boston is so attractive.” Neither CrossHarbor nor Rreef could be reached for comment by deadline.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.