North Colony Asset Management And North River Company Acquire Office Portfolio In Boston For $52M
SOLD
Massachusetts
See Similar DealsOffice252,760 SF
Sold 12/18/2025
SOLD
North Colony Asset Management And North River Company Acquire Office Portfolio In Boston For $52M
10 Channel Center Street
See Similar DealsOffice252,760 SF
Sold 12/18/2025
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$205
Total Square Footage:252,760 SF
Transaction Type:Sale
This transaction involves the sale of an office portfolio located at 10-20 Channel Center Street in Boston, MA. The property comprises three buildings with a total area of 252,760 square feet, and the sale was completed for a price of $52,000,000, resulting in a price per square foot of $205.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $52,000,000
- Address: 10-20 Channel Center Street
- Market: Boston, MA
- Square Footage: 252,760
- Price per Square Foot: $205
- Buyer: North Colony Asset Management & North River Company
- Buyer's Representative: Frank Petz, Matthew Sherry, Rob Schlesinger, Daniel Hincks & Jack Barrett - Colliers
Colliers represented North Colony and North River in the acquisition of this office portfolio, demonstrating their involvement in navigating the complexities of the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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