Union Investment Real Estate GmbH, a German fund that recently acquired the new Converse headquarters in Boston, has picked up another trophy office building with the acquisition of 101 Seaport.

The 17-story, 440,000-square-foot office building that opened last summer is occupied by PwC’s regional headquarters, Red Thread/Steelcase and Skanska USA. The purchase price was $452 million, or $1,027 per square foot, the Boston Globe reported.

Skanska USA developed and constructed 101 Seaport, the first office tower in the 6.3 million-square-foot Seaport Square development. It acquired the 1-acre parcel from Boston Global Investors and Morgan Stanley in 2012 for $37.5 million.

“After the acquisition of The Godfrey Hotel and the Converse Headquarters at Lovejoy Wharf, we are pleased to have strengthened our foothold in the important and economically very stable gateway market of Boston with the acquisition of this trophy building,” Tal Peri, head of U.S. East Coast and Latin America at Union Investment Real Estate GmbH, said in a statement.

Newmark Grubb Knight Frank’s Robert E. Griffin Jr., Edward Maher and Matthew Pullen represented Skanska on the sale. NGKF’s Bill Anderson and David Martel represented Skanska on the leasing.

German Fund Buys 101 Seaport For $452M

by Banker & Tradesman time to read: 1 min
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