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ASB Sells Financial District Building For $24M

Mar 20, 2014 | Reprints | Unlock Link | Print

ASB Real Estate Investments of Washington D.C. sold 31 Milk St. in Boston’s Financial District to Aegean Capital for $24.3 million.

ASB bought the 94,000-square-foot office building from a special servicer for $12.7 million in January 2011. Since then, occupancy in the building has increased from 64 to 90 percent.

"The successful implementation of our property enhancement plan was well-timed to take advantage of the expected step-up in tenant demand," Jim Darcey, managing director of ASB’s Meridian Fund, said in a statement.

Commercial