U.S. Realty Advisors has acquired 1 & 2 Federal St. in Billerica for $26 million from RREEF America.

Cushman & Wakefield’s Robert Griffin, Edward Maher and Matt Pullen oversaw the transaction. Managing Director Jay Wagner arranged $16.9 million in acquisition financing from a national bank.

1 & 2 Federal Street is a two-building complex containing 157,064 square feet of office and R & D space.

"1 & 2 Federal St. has been the beneficiary of extensive capital improvements in recent years," Pullen said in a statement. "These improvements, combined with the long-term occupancy commitment by PAREXEL International Corp., make these assets an excellent complement to U.S. Realty Advisors’ portfolio."

1 & 2 Federal St. is located in a suburban campus setting. Collectively referred to as "The Fields," the six buildings – 1, 2, 3, 4, 5 and 8 Federal St. – encompass approximately 427,000 square feet of first-class office/R&D space. The Fields is 77 percent leased to a variety of companies including those in the pharmaceuticals, aerospace, security software and computer networking industries.