Boston-based developer Related Beal has agreed to sell the new Converse headquarters on Boston’s Lovejoy Wharf to a German pension fund for $150 million, according to a real estate source.

The sale would be the latest in a series of Boston and Cambridge trophy office buildings bought by foreign retirement funds. Boston and other U.S. coastal cities have become popular destinations for funds seeking growth or stability through commercial real estate investments.

At $800 per square foot, the transaction is slightly higher than the $750 per foot range for Class A office buildings that have sold in Boston this year. Approximately $8 billion in Greater Boston office deals have taken place in 2015, including nearly three-quarters to foreign investors.

The new crop of institutional owners is expected to hold onto the assets for the long term.

“They don’t trade. This is sovereign wealth and it’s not going anywhere,” said Frank Petz, managing director for JLL’s capital markets team, at an economic forum sponsored by NAIOP Massachusetts Thursday.

Boston trails only Manhattan in foreign investment in commercial real estate over the last 12 months, according to Real Capital Analytics.

The transaction is being facilitated by Seattle-based Metzler Real Estate, the North American affiliate of German private bank Bankhaus Metzler, on behalf of Hamburg-based Union Investment Real Estate GmbH, according to a real estate source. Metzler CEO Donald Wise did not return messages seeking comment.

A spokesman for Union Investment Real Estate declined to comment on the potential sale. Related Beal also declined comment.

Related Cos. and Beal Co., which subsequently merged, bought the dilapidated former Schrafft candy company building from Ajax Management Partners in 2012 for $11.25 million. They redeveloped the former manufacturing and warehouse structure into a collaborative office space for the Nike subsidiary, which signed a long-term lease in 2013 and relocated from North Andover last April. The project also included restoration of Lovejoy Wharf, a new public boardwalk and extension of the Boston Harborwalk and a floating dock intended to be used for a future harbor ferry stop.

International retirement funds have bought stakes or outright ownership or many of the downtown towers that have come up for grabs in recent years.

AustralianSuper bought a 49 percent stake in 75 State St. last year, while Norwegian government pension paid $1.5 billion for a 45 percent stake in Atlantic Wharf and 100 Federal St.

Toronto-based pension fund manager Oxford Properties Group has agreed to pay a record $1,000 per square foot for 500 Boylston/222 Berkeley St., a 1.3-million-square-foot office tower in Back Bay. That transaction was closing Friday.

The Boston area had the world’s third-fastest growing office rents in 2014, rising 12.2 percent, according to a survey of metro areas by JLL.