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2 Dry Dock Avenue, Boston, ...

KKR And Synergy Investments Acquire Office Building In Boston For $234.5M
SOLDOffice

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

Skanska
SkanskaSeller

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