Image courtesy of EQ Office
A Boston office building that traded for nearly $156 million weeks before the COVID shutdown in 2020 was acquired by Boston-based Synergy Investments in exchange for the assumption of $76.5 million in mortgage debt.
The 179 Lincoln St. property spans an entire block between Chinatown and the Leather District. The seller was Blackstone’s EQ Office.
Synergy was not immediately available for comment on its plans for the building. EQ Office completed a series of upgrades to the brick-and-beam structure in 2023, including updates to the 5-story atrium lobby and restoration of the original terra cotta floors.
What else is on tap today?
- Santander’s Branch Experiment: Boston will be one of five cities in five states to get a pilot location for the bank’s new, stripped-down branch format.
- SVB Private Branches Rebranding: First Citizens Bank will finally plant its flag in Greater Boston roughly a year after buying Silicon Valley Bank following the latter’s March 2023 collapse.
- Fed Rate-Cut Outlook Changes: In new quarterly projections, Fed officials forecast that stronger growth and stubborn inflation would persist this year and next, meaning the central bank’s benchmark interest rate will stay higher for longer.
- Allston Megaproject on ‘Aggressive’ Timeline: Federal millions in hand, a top state official wants to push quickly on the huge transit-and-highway project that will unlock Boston’s next major growth hub.
Show me the data!
Mortgage interest rates bounced back up this week.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- The recent news that Massachusetts will receive a $335 million infrastructure grant for the Allston Multimodal Project is a massive victory for the Greater Boston economy.
- Whether you’re a brand-new agent or a 40-year veteran, columnist Bernice Ross sat down with market intelligence expert Rick Sharga to get the answers you need to cope with what’s ahead.
- Even if every possible new unit is built under the MBTA Communities reforms, we’d just end up right back where we are today, without housing policy in place to support the sustainable long-term growth of this region.
