A Maryland real estate adviser that manages a $7-billion pension fund’s portfolio has made the latest in a series of big investments in Boston’s Fort Point neighborhood, acquiring four parcels for $162.5 million from Boston-based Berkeley Investments Monday.

The latest purchases include the 580-space Stillings Street garage and 55,095-square-foot office building at 22 Boston Wharf Road, which sold for $86.5 million. Berkeley is proposing to add two floors of office space totaling 50,000 square feet.

Other transactions include 17-31 Farnsworth St. for $44 million, 12 Farnsworth St. for $30 million and a parking lot at 11 Sleeper St. for $2 million.

In January, MEPT acquired nine buildings totaling 650,000 square feet in Fort Point and South End for $250 million. The acquisition included 300 A St. and 313 and 330 Congress St. in Fort Point and 720 Harrison Ave., 575 Albany St., 100 East Canton St. and 123 East Dedham St. in South End. MEPT and Leggat McCall Properties are partnering on the South End portfolio, which includes a potential redevelopment of medical offices and new apartment construction.

MEPT had earlier acquired the Necco Street garage in Fort Point for $56 million. Bethesda, Maryland-based Bentall Kennedy, which serves as advisor to MEPT, did not immediately respond to requests for comment.

Berkeley Investments acquired the Fort Point properties as part of a 13-building portfolio in 2004, before the neighborhood emerged as one of the city’s top destinations for startups and tech firms.

Office rents for converted warehouse buildings in Fort Point have risen to the low $40 per square foot range, prompting longtime landlords to cash out. In April, Waltham-based Crosspoint Assoc. sold a 428,000-square-foot office portfolio to Invesco Advisers for $183.5 million.

Fund Adds To Boston Portfolio With $162M Deal

by Steve Adams time to read: 1 min
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