26 05 2016

Blackstone Group has sold Boston’s Fiduciary Trust Building to Deka Immobilien Investment for $139 million

Jones Day advised The Blackstone Group and its affiliate Equity Office Properties in connection with the $139 million sale of the 17-story, 227,365-square-foot, Class A office property at 175 Federal Street in Boston, Massachusetts, to Deka Immobilien Investment GmbH.


A Suffolk County deed lists the new owner as Deka Immobilien Investment GMBH, an LLC based in Frankfurt, Germany. DekaBank is the asset management and capital markets arm of Deka Group, which is among the largest securities providers in Germany. The 17-story, 227,365-square-foot office property at 175 Federal St. (at Summer Street) is immediately across from Dewey Square. Blackstone (NYSE: BX) had acquired the office as part of its $39 billion acquisition of Equity Office Properties Trust in 2007.
Jones Day advised The Blackstone Group and its affiliate Equity Office Properties in the transaction with a team led by Real Estate partner Michael Haas (picture) alongside Counsel Marc Silverstein. Involved fees earner: Michael Haas - Jones Day; Marc Silverstein - Jones Day;

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