Updated Aug 20, 2026
Pembroke Acquires Office Building On 245 Summer Street In Financial District For $728.5M
245 Summer St, Boston, MA 02205, USA
$728,500,000
$847/SF
Building Size
860,000 SF
Asset Type
Office
Closing
Apr 7, 2020
About this deal
AI
The property involved in this transaction is an office located at 245 Summer Street in the Financial District. The sale took place on 04/08/2020.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $728,500,000
- Square footage: 860,000
- Price per square foot: $847
- Address: 245 Summer Street
- Market: Financial District
The seller of the property was Benderson Development Company, represented by Randy Benderson. The buyer was Pembroke, represented by Edward Johnson & Jack Clark.
The office sale at 245 Summer St, Boston, MA 02205, USA in Boston, Massachusetts sold for $728.5M in 2020. The building is 860,000 square feet, implying about 847 per square foot on the published price. Named participants on the 245 Summer St, Boston, MA 02205, USA sale are Randy Benderson. This page is the Boston, Massachusetts file for the 245 Summer St, Boston, MA 02205, USA office sold: pricing, party profiles, and other closed office comps from the same Boston sit in the Market section below. Filter that Boston office set by closing date to see what else sold near 245 Summer St, Boston, MA 02205, USA around 2020. Published consideration for 245 Summer St, Boston, MA 02205, USA is $728.5M, dated 2020. Cite this Pembroke Acquires Office Building On 245 Summer Street In Financial District For $728.5M sale when underwriting similar office product around Boston, Massachusetts.
Players
Boston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93