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Skanska and Twining Selling Watermark Tower

Skanska and Twining Properties have agreed to sell the 346-unit Watermark Seaport apartment tower in Boston.

The sale price is $240 million, or nearly $640,000 per unit. The buyer is CLPF Residences at Seaport LLC, an affiliate of Clarion Partners, which is expected to close on the deal in the first quarter, Skanska said. Skanska’s equity share of the property at 85 Seaport Blvd. is 42.75 percent.

Completed in early 2016, the 280,000-square-foot Watermark Seaport contains 44 “innovation units” as small as 408 square feet on its second floor in addition to conventional-sized apartments. The 24,000-square-foot retail space on the ground floor is owned by W/S Development and leased to Shake Shack and Yo! Sushi.

B&T Daily