A flurry of transactions closed a heady year for the Boston real estate market, including the sales of a rare portfolio of Boylston and Newbury street properties, One Winthrop Square and The Block on Congress.
Bethesda, Md.-based ASB Real Estate Investments paid $91.2 million for the four retail-office buildings at 801 Boylston St. and 333-335, 342 and 352 Newbury St. that total 51,249 square feet and are fully leased.
"It's aggressive pricing," said Michael Jammen, a principal at UrbanMeritage, a Boston real estate investment firm. "It's not often that a portfolio of properties comes up together on Newbury Street. The buildings are quality."
The seller was an entity formed by Irish investor Paul O'Sullivan and his U.S. business partner, John Driscoll of North Reading.
In another transaction, San Francisco's Divco- West Real Estate Services acquired One Winthrop Square — a 114,000-square-foot office building with BNP Paribas and Boston Financial Management as major tenants — for $36 million. The seller, Munich-based GLL HRE Core Properties, had purchased it in 2009 for $21 million.
Boston's Related Beal, meanwhile, bought "The Block on Congress" from Fidelity Investments for $59.2 million, according to Registry of Deeds documents. The five buildings at the top of Post Office Square consist of about 343,000 square feet of office and retail space and include 82 Devonshire St./35 Congress St., 54 and 68 Devonshire St., and 15 and 19 Congress St.
"Rarely do you have the opportunity to reposition and reinvent an entire city block, especially one in the heart of downtown Boston," Stephen Faber, executive vice president of Related Beal, said in a statement.
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