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Tishman Speyer Buys Eastie Tower for $135M

Photo by Steve Adams | Banker & Tradesman Staff

A 16-story apartment tower on the East Boston waterfront was acquired by Tishman Speyer in a $135 million deal.

The purchase price works out to over $521,000 per unit.

American General Life Insurance Co. provided $75.2 million in mortgage financing for the transaction.

The seller, Portland, Oregon-based Green Cities Co., developed the complex at the 4-acre site of a vacant warehouse.

Designed by ADD Inc., the 242,615-square-foot building includes a three-story parking garage and retail space occupied by Reelhouse restaurant.

The project also included creation of a new waterfront park, boat landing and extension of the Boston Harborwalk.

B&T Daily

by Steve Adams time to read: <1 min

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