A Washington, D.C. developer that’s majority owner of the future State Street Corp. headquarters at One Congress in Boston has invested in another downtown office tower.

Carr Properties acquired a 50-percent interest in 75-101 Federal St. from Rockpoint Group for $242.5 million.

Rockpoint Group paid $326.5 million to acquire the Art Deco-style tower in the Financial District in 2015.

The 853,319-square-foot complex consists of two connected 21- and 31-story towers and a 175-space parking garage. Newmark Knight Frank’s capital markets team brokered the transaction.

Carr Properties joined the One Congress tower ownership team in 2018 and later acquired a 75 percent ownership interest in the building currently under construction, 50 percent of which is leased to State Street for its future headquarters. The privately-held REIT also bought the 200 State St. office tower in 2018 for $222 million.

D.C. Developer Buys Stake in Boston Tower

by Steve Adams time to read: 1 min
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