A joint venture of Rockefeller Group Investment Management Corp. and Mitsubishi Estate New York have acquired 28 State St. in Boston from Equity Office Properties Trust.

The sale price was $345 million, according to a person familiar with the transaction. The 40-story tower at Congress and State Streets was built in 1968 and contains 572,000 square feet of office space.

“Boston has been a target market of ours since the launch of the Rockefeller Group U.S. Premier Office Fund and 28 State Street is a strong addition to our portfolio,” said Atsushi Nakajima, President and Chief Executive Officer of The Rockefeller Group, in a statement.

The office tower is the fourth joint venture by the two companies totaling 1.9 million square feet of U.S. office space, including properties in Washington, D.C. and San Francisco.

Blackstone acquired 28 State St. in 2007. It has been marketing six other office properties in the Boston area for $2.5 billion, Bloomberg BusinessWeek reported. That portfolio includes 1 Memorial Drive in Cambridge, which was the site of a building fire last week, and 225 Franklin St. in Boston.

Equity Office Sells 28 State St. For $345M

by Steve Adams time to read: 1 min
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