A Boston real estate developer with an eye toward adding value to properties once it purchases them has paid $43.3 million to purchase an office building in Boston’s Seaport District.

The Davis Cos. has acquired the 155,000-square-foot Tower Point from New York-based Meritage Properties.

The property, which includes 65 parking spaces, is about 26 percent vacant. When Meritage bought it in late 2008, the firm paid $32 million and the property was just 10 percent vacant. The firm that sold it to Meritage, Westport Point Capital, originally bought Tower Point for just $18 million when the building at 27-43 Wormwood St. was 30 percent empty in 2006.   

Davis Cos. will renovate portions of the property and put up the available 40,000 square feet for lease. The brick and beam loft space available is on the top floors of the building, originally built in the early 1900s. The building is currently leased to tenants including Weidlinger Assoc., OwnerIQ and Rethink Robotics. The six-story property was redeveloped in 1988, with further upgrades in 2006 and 2012.

"This was an opportunity to acquire a very unique building in one of Boston’s most active submarkets," Jon Frey, managing director for Davis Cos., said in a statement. "There continues to be demand for high-quality brick and beam office buildings, especially in close proximity to South Station. The property has experienced increased leasing momentum over the last 12 months, and with our additional planned capital upgrades and focused management, the property will be a great fit for tenants looking for high-quality space in the Seaport."