Photo courtesy of Synergy

Boston-based developer Synergy made another bet on the future of the office market with acquisition of a 406,928-square-foot office tower in Downtown Crossing.

The $78 million transaction at 101 Arch St. represents a 36-percent discount on the property’s previous sale in 2005 for $121.7 million to Clarion Partners.

The latest purchase price works out to $192 per square foot, reflecting the post-pandemic reset in the office property category. The building is currently 82 percent leased to 34 tenants including Rockland Trust, KP Law and Thornton Thomasetti.

On a dollar basis, the deal represents the largest office sale in Boston since before the pandemic.

The acquisition brings Synergy’s portfolio to more than 7 million square feet, including this month’s acquisition of another predominantly leased Boston office property, 179 Lincoln St.

The 21-story Arch Street tower was completed in 1989 and underwent a renovation project in 2020 designed by CBT Architects that included updates to the 20,000-square-foot lobby and a new conference center. The previous ownership spent $22 million in capital improvements over the past decade, Synergy said.

“Adding 101 Arch St. to our portfolio aligns perfectly with our strategy of investing in high-quality assets in prime locations,” CEO David Greaney said in a statement.

JLL’s capital markets team brokered the transaction.