CAMBRIDGE, MA—The Roseview-PMRG Fund I hasacquired the 100 CambridgePark Drive office building here for $41.5million and plans to undertake capital improvements to repositionthe property.
The deal for the Class A, five-story, 135,572-square-foot officebuilding is the first purchase by the $250-million discretionaryfund established in July of this year by PM RealtyGroup and the Roseview Group.
The fund will invest several million dollars to re-position 100CambridgePark Drive. Planned improvements include lobby and othercommon area renovations. 100 CambridgePark Drive is 78% leased andhas immediate availability for users ranging from 2,000 square feetto 16,000 square feet. PMRG's Boston office will oversee propertymanagement with leasing being handled by JosephFlaherty's team at ColliersInternational. The fund represented itself in theacquisition. Cushman & Wakefield representedthe seller, Transatlantic InvestmentManagement.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
