A joint venture of CIM Group and Center Court Mass LLC has acquired 95 Berkeley St. in Boston’s South End from the Community Builders for $43 million.

Nonprofit developer Community Builders has owned the 6-story, 114,000-square-foot office building where its headquarters have been located since the early 1990s. The company declined to say whether it will remain at the property.

“We’re excited about the ways in which the sale of 95 Berkeley by our affiliate Community Development Inc. will help us invest in communities and create access to opportunity for people of modest incomes in Boston and across the 30 cities where we work,” The Community Builders said in a statement.

The property, which is 90 percent leased, attracted interest from a broad spectrum of buyers from local to international, according to Doug Jacoby, a senior vice president at Colliers International. Jacoby and Colliers Senior Vice President Scott Dragos represented The Community Builders in the transaction.

Built in 1920, the building was last renovated in 1988. The Community Builders acquired it in 1992 for $2.4 million, according to records compiled by The Warren Group, publisher of Banker & Tradesman. Located at the corner of Berkeley and Chandler streets, it’s Los Angeles-based CIM Group’s first acquisition in the South End.

CIM Group and Center Court obtained a $31 million mortgage from Apollo Commercial Real Estate Financing of New York.

Community Builders Sells South End Offices For $43M

by Steve Adams time to read: 1 min
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