Boston— Newmark Knight Frank announced the completion of the sale of 100 Summer Street in Downtown Boston, on behalf of Blackstone and EQ Office to Rockpoint Group. Financial details of the transaction were not disclosed.
Vice Chairman Edward Maher and Executive Managing Directors Matthew Pullen and James Tribble of NKF’s Boston Capital Markets team – which is led by Co-Head of U.S. Capital Markets Robert Griffin – oversaw the transaction of the mixed-use trophy tower in conjunction with NKF Executive Managing Director David Martel and Senior Managing Director Timothy Bianchi.
In addition, NKF’s Boston Debt & Structured Finance team – which is led by Executive Managing Director David Douvadjian, Sr. with Senior Managing Director Brian Butler, Managing Director Timothy O’Donnell and Director David Douvadjian, Jr. – represented the buyer in arranging financing for the transaction.
100 Summer Street comprises a 32-story tower with 1.1 million square feet of office/retail space and a below-grade parking garage with 102 parking spaces.
“Significant capital improvements have fully transformed 100 Summer Street into a modern workplace with a brand-new lobby and a top-tier amenity center featuring a coffee bar, gaming areas and a fitness center,” said Maher. “These upgrades have enabled the property to appeal to premier ‘innovation economy’ tenants, generating an impressive 600,000 square feet of leasing velocity throughout the past three years.”
100 Summer Street facilitates superior commuter access, located within a two-minute walk of South Station, Boston’s primary transit hub, and swiftly accessible to Interstates 90 (Massachusetts Turnpike) and 93.