Barry S. Sternlicht Of Starwood Property Trust Acquires Boston Office For $95M From Capital Properties

The office asset is located at 31 Saint James Avenue, Boston, MA, and encompasses a total space of 507,700 square feet. The property was acquired for a transaction amount of $95,000,000, which translates to a price per square foot of $187. The building's occupancy had fallen below 45% prior to the sale.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $95,000,000
• Buyer: Barry S. Sternlicht - Starwood Property Trust
• Seller: Capital Properties & Ronald M. Dickerman - Madison International Realty
• Market: Boston, MA
• Square Footage: 507,700
• Price Per Square Foot: $187

Barry S. Sternlicht represents Starwood Property Trust in the acquisition, while Ronald M. Dickerman represents Madison International Realty in the sale. The property was previously under the control of lender LNR Partners after significant tenant departures.