KKR And Synergy Investments Acquire Office Building In Boston For $234.5M
2 Dry Dock Avenue, Boston, MA 02210
$234,500,000
$997/SF
Building Size
235,000 SF
Asset Type
Office
Closing
Dec 14, 2021
AI
Located at 2 Drydock Avenue in Boston, MA, this office property was recently sold in a closed transaction. The property spans approximately 235,000 square feet and was sold for a price of $234,500,000, resulting in a price per square foot of $998. The sale took place on December 14, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $234,500,000
- Address: 2 Drydock Avenue, Boston, MA
- Market: Boston, MA
The buyer of this property is KKR, represented by Daniel Rudin, along with Synergy Investments, represented by Dave Greaney. On the other hand, the seller is Skanska, represented by Russell DeMartino. These key individuals and companies played a significant role in the transaction.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93