Image courtesy of Newmark and Boston Architectural Photographers

A downtown Boston property anchored by Atrius Health medical offices was acquired by an alternative investment manager for $36.35 million, or 24 percent below its previous trade.

Boca Raton, Florida-based Kayne Anderson’s real estate strategy includes a focus on medical office, senior and student housing and multifamily properties.

The seller, German investor KanAm Grund, paid $48 million for the 10-story, 52,337-square-foot building in 2021.

Asking rents for class B office buildings in Boston have fallen 15 percent from their pre-pandemic peak, according to brokerage Colliers’ first quarter office report. At the end of the first quarter, the vacancy rate was 23.1 percent for class A buildings and 28.2 percent for class B properties.

Since 2013, Kayne Anderson has acquired 746 medical office properties in the U.S. totaling over 30 million square feet.

Financial District Offices Trade for $36M

by Steve Adams time to read: <1 min