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BOSTON-As GlobeSt.com reported on August 5th, Broadway Partners is selling Boston trophy 200 State St. to GLL Real Estate Partners GMbH for $167 million. The Munich-based company is grabbing the office property on behalf of European institutional investors.

The property sits in the middle of the Financial District here and retains a current 99% occupancy, boasting tenants Eaton Vance, Beacon Capital Partners, the Parthenon Group and law firm Morgan, Brown & Joy, among others. Broadway picked up the asset in 2007–for $145 million according to sources–as part of a $5-billion portfolio from Beacon Capital Partners, but has lately been divesting itself of high-profile assets over the past few months. New York City-based Broadway sold One City Center in Houston for $131 million in June and is reportedly selling the Citigroup Center in San Francisco for $370 million.

“The sale of 200 State St. is another step forward in the executing of Broadway’s capital strategy,” Scott Lawlor, CEO of Broadway, says in a statement. “and the repositioning of our portfolio of outstanding office properties. We’re pleased that our current disposition activity is generating gains for our investors in the midst of a very challenging commercial real estate investment climate nationwide.”

GLL is a real estate funds management group as a joint venture between Lend Lease Corporation and Italian insurance company Assicurazioni Generali and management. Broadway Partners is a private national real estate investment and management firm. Robert Griffin, Marci Loeber and Edward Maher of Cushman & Wakefield of MA brokered the deal.

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