Newmark Arranges Sale & Related Acquisition Financing of 399 Boylston Street in Boston, Massachusetts

September 16, 2025 9:00 AM

Newmark announces the Company has arranged the sale of 399 Boylston Street, a 13-story, 245,084-square-foot boutique office/retail property in the Back Bay neighborhood of Boston, Massachusetts. Newmark Co-Head of U.S. Capital Markets Robert Griffin, along with Boston Capital Markets Executive Vice Chairman Edward Maher, Vice Chairman Matthew Pullen, Executive Managing Director James Tribble, Senior Managing Director Samantha Hallowell and Associate Director William Sleeper, represented the seller and procured the buyer, DivcoWest.

Newmark Boston Debt & Structured Finance Vice Chairman David Douvadjian, Sr., Executive Managing Director Timothy O’Donnell, Senior Managing Director David Douvadjian, Jr. and Associate Directors Bobby Alvarado and Conor Reenstierna arranged acquisition financing on behalf of the buyer.

“The acquisition of 399 Boylston by DivcoWest underscores strong investor conviction in the strength of the Back Bay submarket,” said Maher. “This asset’s recent capital improvements and irreplaceable location position it as one of the most attractive office offerings in the city.”

399 Boylston Street has maintained an average occupancy rate of more than 85% over the past five years. Ownership has invested significant capital into base-building improvements in the past decade, including a brand-new lobby and entryway, as well as extensive tenant improvements. The property’s vibrant retail component is anchored by the popular Tatte Bakery & Café, a Vidal Sassoon Salon, Carbon Health urgent care and CorePower Yoga.

399 Boylston Street is walkable to multiple public transit options, including the MBTA Green Line’s Arlington station, and easily accessible to Interstates 90 and 93.

Newmark Senior Managing Directors James Brady and Matthew George provided local leasing expertise for the transaction, and Senior Financial Analyst Nickolas Revers and Financial Analysts Grady Zink and Harrison Zucco provided analytical support.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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