The Braintree-based Flatley Co. has pared numerous properties inrecent years, including several significant sales in 2007. Thatactivity was headlined by a $500 million dispatch of 10 New Englandretail assets, but a Marriott Hotel at the developer's Crown ColonyOffice Park in Quincy also changed hands for $116 million in May,and Flatley also this spring harvested a 10-building portfolio onthe South Shore for $52 million. On the other side of the aisle,GlobeSt.com last week reported that Flatley has agreed to buyanother real estate property, the 700,000-sf Hewlett-Packardcorporate campus in Nashua, NH for more than $45 million. Calls toFlatley to discuss that deal and the Boston sales were notreturned.

Synergy, meanwhile, has been in an aggressive acquisitions modethis year, not only buying the Flatley assets, but also announcingtoday the purchase of 133 Portland St. in Boston's North Stationmarket. After being acquired in North Station's dark ages of 1995for less than $50 per sf, 133 Portland St. fetched four times thatamount in a $6 million sale by Edgewood Capital Advisors. Accordingto participants in the transaction, the upside reflects the officesubmarket's revival following the Big Dig project, plus a growingardor for Class B buildings to take advantage of a suddenlyresurgent office market. The Big Dig project depressed not only thehulking Central Artery, but also an elevated trolley line that fordecades had cast shadows upon North Station, including PortlandSt.

Calling 133 Portland St., "a solid acquisition in an emergingdistrict," Synergy VP Dee Minnock adds that the six-story,30,000-sf building "will complement our ownership of other assetswithin the Bulfinch Triangle," referring to a section of thedistrict known for its historic buildings and unique architecture.Synergy last year bought 141 Portland St., a 23,000-sfoffice/retail building secured in an equity deal with Irish and USinvestors. Investors also sent cash from Ireland to participate inthe latest trio of sales, Synergy indicates.