San Francisco's DivcoWest increased its Boston-area holdings last week with the $395 million purchase of the One Kendall Square office, lab and retail complex in Cambridge.
The San Francisco real estate investment firm bought the nine-building, 670,000-square-foot campus and a 1,500-car garage in two separate sales that closed Thursday, according to Registry of Deeds documents and a source familiar with the transaction.
Representatives from DivcoWest and the sellers, Related Beal and Rockwood Capital, could not be reached for comment.
Beal Cos. and Rockwood bought One Kendall Square for $210.5 million in 2006 and made $64 million in improvements.
They put the property up for sale in December 2012 but pulled it from the market in March, according to published reports.
One Kendall Square is 91 percent leased, with tenants including Twitter, Semprus BioSciences, Staples and Merrimack Pharmaceuticals. It encompasses the nine-screen Kendall Square Cinema and restaurants/bars including the Blue Room, West Bridge, Cambridge Brewing Co. and Belly Wine Bar.
DivcoWest, which manages more than $2.5 billion of equity, made the purchase under its newest investment fund, DivcoWest Fund IV, which is targeting real estate including properties in technology-oriented growth markets such as in-demand East Cambridge.
DivcoWest acquired One Winthrop Square, a 114,000-square-foot Boston office building, for $36 million in December.
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