Barings & Greatland Realty Partners Acquire Newton Office Building For $117.5M

A joint venture between Barings and Greatland Realty Partners has acquired the Riverside Center in Newton, Massachusetts. The property, located at 275 Grove Street, is an office building with a total area of 510,000 square feet. The transaction was completed for a sale price of $117,500,000, resulting in a price per square foot of $230. The seller of the property was Alexandria Real Estate Equities.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $117,500,000
• Address: 275 Grove Street, Newton, MA
• Market: Newton, MA
• Buyer: Barings & Greatland Realty Partners
• Seller: Alexandria Real Estate Equities
• Square Footage: 510,000
• Price per Square Foot: $230

This acquisition marks the successful sale of the Riverside Center by Alexandria Real Estate Equities. The joint venture between Barings and Greatland Realty Partners secured the property for $117.5 million, further expanding their real estate portfolio in the Boston area.