Crosspoint, Anglo Irish Bank Joint Venture Acquires 10 Buildings in Seaport District
Crosspoint Associates Inc. and one of Anglo Irish Bank’s private clients purchased the 10-building Thomson Financial portfolio in Boston’s Seaport District for $120.5 million. HDG Mansur sold the properties for $315 per square foot. Anglo Irish Bank provided $87 million in financing the acquisition.
Thomson Financial Inc. completely leases the 382,450-square-foot portfolio.
The Thomson portfolio consists of 10 buildings at:
- 11-15 Farnsworth St. is a five-story, 41,566-square-foot office building;
- 12-14 Farnsworth St. is a five-story, 40,000-square-foot office building;
- 22-24 Thomson Place is a two-story, 11,000-square-foot office building;
- 26-28 Thomson Place is a five-story, 27,500-square-foot office building;
- 19-33 Thomson Place is a three-story, 96,400-square-foot office building;
- 30-34 Thomson Place is a six-story, 48,000-square-foot office building;
- 35 Thomson Place is a six-story, 45,984-square-foot office building;
- 36-40 Thomson Place is a three-story, 24,000-square-foot office building;
- 42-56 Thomson Place is a two-story, 32,000-square-foot office building; and,
- 49-51 Thomson Place is a five-story, 16,000-square-foot office building.
On-site amenities include a fitness center and full-service cafeteria. The 10 buildings were built in the early 1900s and renovated in the 1990s.
CB Richard Ellis’ Capital Markets Team of Bill Moylan, Matt Pullen, Chris Angelone and Gary Lemire represented the seller and procured the buyer.
Established in 1984 and based in Natick, MA, Crosspoint Associates Inc. manages, develops and owns commercial and industrial properties. Crosspoint manages more than 2 million square feet of real estate.
Anglo Irish Bank is Ireland’s third largest bank and operates in treasury and wealth management and business lending.
Please refer to COMP #1373513 for further details.