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KKR & Co Acquires 414-Unit Condo In Boston, MA For $332M

Property Image
SOLD
$332,000,000

Massachusetts

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403,749 SF
Sold 07/12/2020
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Property Image
SOLD

KKR & Co Acquires 414-Unit Condo In Boston, MA For $332M

399 Congress St, Boston, Massachusetts, USA

See Similar Deals
403,749 SF
Sold 07/12/2020
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Summary

MASSACHUSETTS
Price Per Square Foot:$822
Total Square Footage:403,749 SF
Transaction Type:Sale

Located at 399 Congress St in Boston, MA, this Condo property was recently sold in a closed transaction. The asset consists of 414 units and was purchased by KKR & Co, represented by Henry Kravis. The seller, Crescent Heights, was represented by Sonny Kahn. The sale occurred on 07/12/2021 and the transaction price was $332,000,000, resulting in a per unit price of $801,932.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $332,000,000
  • Units: 414
  • Price per Unit: $801,932
  • Sale Date: 07/12/2021
  • Address: 399 Congress St, Boston, MA

Henry Kravis, representing KKR & Co, played a key role in the acquisition. The deal was facilitated by Sonny Kahn, the representative of Crescent Heights. The sale price of $332,000,000 signifies the value of this Condo property in the Boston market.

Players

Henry Kravis
9 deals$2.3B volume
BUYER

Sonny Kahn
8 deals$1B volume
SELLER

KKR
LENDER

Details

SOLD
IMAGE: Henry Kravis DATE: 07/12/2021 ADDRESS: 399 Congress St MARKET: Boston, MA ASSET TYPE: Condo SELLER: Crescent Heights - Sonny Kahn BUYER: KKR & Co - Henry Kravis SALE PRICE: $332,000,000 UNITS: 414 ~ PPU: $801,932

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$1,179,525.87
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