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Faros Properties Acquires 20 Ashburton Place For $9.85M

Nov 5, 2014 | Reprints | Unlock Link | Print

20Ashburton Faros Properties has acquired 20 Ashburton Place, a 48,580-square-foot office building in Boston’s Beacon Hill, from the Massachusetts Teachers Association for $9.85 million.

Built in 1968, the eight-story building contains the MTA headquarters, Beacon Hill Staffing Group and Beacon Hill Consulting Group.

JLL Managing Directors Frank Petz and Jessica Hughes and Vice President Robert Borden represented the MTA in the transaction.

"This offering gave investors the rare opportunity to purchase a quality asset in one of Boston’s most sought-after neighborhoods," Petz said in a statement. "The unique physical characteristics allowed investors to contemplate multiple redevelopment options and led to a very competitive process. Faros recognized the significant potential and seized the opportunity."

Commercial