The Seaport Center of D Street and half an acre of land
across from this major building in Boston has been sold for $169.75
million. According to documents filed at the Suffolk Registry of
Deeds, this significant building located right in the heart of
Bostons Seaport District was bought by a 451 D Street LLC
controlled by GE Asset Management. This now marks the second
ownership group within the last two years for this property.
The transaction included property at 60-84 Fargo Street, known
as 451 D Street or the Seaport Center, and 67- 75 Fargo Street. The
purchase was financed by the GE Asset Management-controlled LLC
along with a $108.4 million mortgage from Prima Mortgage Investment
Trust.
Some significant tenants currently occupying 451 D Street
include the Boston Herald and JP Morgan Chase who together, along
with the other tenants, occupy this property that takes up 1.42
acres of this prized area in the Seaport.
Two years ago this major complex sold for $110 million to an
entity that is controlled by Shorenstein Co., a National Real
Estate Investor based out of San Francisco that specializes in
high-quality office properties. This most recent sale of $169.75
million represents a rapid turnaround for Shorenstein and
demonstrates a great performance in the commercial real estate
market to go along with the recent rise in residential sales here
on our local level. The best is yet to be.