Boston— NKF Capital Markets has completed the sale of 67 South Bedford Street in Burlington, MA to one of Anchor Health Properties’ existing institutional joint ventures.
On behalf of The Davis Companies, NKF Capital Markets Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen, Managing Director Michael Greeley, Director James Tribble and Associate Director Samantha Hallowell of the Boston office, which is led by Co-Head of U.S. Capital Markets Robert Griffin, oversaw the transaction of the Class A medical/office building.
67 South Bedford Street is anchored by Lahey Hospital & Medical Center, which operates a 317-bed flagship hospital directly adjacent to the subject property. The asset recently underwent extensive common area and exterior upgrades in order to enhance its tenant experience and improve its identity along Interstate 95/Route 128.
“67 South Bedford Street is a mission-critical asset for Lahey,” said Greeley. “Its proximity to the organization’s flagship hospital enables it to benefit from the ‘250-yard rule,’ by which it is considered an ‘on-campus’ facility.”
Featuring substantial frontage along Interstate 95/Route 128, 67 South Bedford Street boasts a high-profile location in a vibrant market with swift access to Downtown Boston. The asset also enjoys exceptional positioning in the heart of Burlington’s expansive amenity base.
“Burlington is a premier ‘urbanized’ market that has undergone a surge of capital investment in recent years,” said Pullen. “67 South Bedford Street therefore offers tenants a vibrant ‘live-work-play’ environment combined with a first-class physical plant.”
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multifamily, retail, hospitality, light industrial, healthcare and bioscience properties across the Eastern United States.
Anchor Health Properties is a national full-service real estate development, management, leasing and investment platform serving investors and health systems across the United States. Anchor manages and leases nearly four million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains 10 offices nationally (including new offices in Charlotte, metro New York City and Denver, resulting from recent acquisitions) with more than 50 professionals. Over the past five years, Anchor principals have acquired and/or developed over $3 billion of medical real estate across the country.