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Boston-based Synergy Investments added to its more than 5 million-square-foot property portfolio with the $62 million acquisition of a downtown Boston apartment and retail building.

The 131 State St. building includes 125,124 square feet of residential and commercial space, including the Bostonia Public House restaurant.

The seller was Tishman Speyer Archstone LLC.

Founded in 2002 by CEO David Greaney, Synergy was one of Boston’s most active investors in Boston’s class B office market in the past decade. Greaney was among a group of investors who opened the Bostonia Public House in 2014 on the ground floor of the State Street property.

Synergy Investments expanded its horizons to Massachusetts Gateway Cities in 2002 with the $114.5 million purchase of a Quincy high-rise apartment building.

In March, Synergy acquired the 273,304-square-foot Chestnut Place office complex in Worcester for $10.5 million.

Originally known as the Board of Trade building, the State Street property was completed in 1901 and converted from office space into apartments in the 1990s.

Archstone Smith Operating paid $36 million for the State Street property in 2005, according to data compiled by The Warren Group, publisher of Banker & Tradesman. In 2007, it sold the property for $1 to the Tishman Speyer Archstone entity for $1.

Synergy Investments did not immediately respond to a request for comment.

Synergy Investments Makes $62M Downtown Buy

by Steve Adams time to read: 1 min
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