NGKF Capital Markets has successfully completed the recapitalization of Ten Post Office Square in Downtown Boston, Massachusetts. The NGKF Capital Markets Boston team led by U.S. Head of Capital Markets Robert Griffin, Vice Chairman Edward Maher and Executive Managing Director Matthew Pullen oversaw the recapitalization of the premier Class B office asset with LaSalle Investment Management on behalf of Synergy Investments and GreenOak.
Totaling 452,000 square feet within two towers, Ten Post Office Square represents one of Downtown Boston’s top-quality Class B assets. The 14-story property is presently 94 percent leased to a diverse roster comprising nearly 40 tenants.
“Ideally positioned to draft off of Downtown Boston’s high-performing Class B office market, Ten Post Office Square boasts an outstanding rent growth story in recent years,” said Maher. “The property’s in-demand Class B office space and commanding presence along Post Office Square, the city’s go-to gathering place, combine to create a desirable destination for a variety of firms.”
By virtue of its location in the heart of Downtown Boston, Ten Post Office Square features convenient access to major regional highways and public transportation hubs. Interstates 90 (Massachusetts Turnpike) and 93 are just moments away, while South Station, Boston’s primary transit center, is less than a 10-minute walk away. Additionally, the property is immediately surrounded by the city’s wealth of amenities.
About Synergy Investments
Synergy Investments is a full service real estate investment and operating company primarily focused on the Boston market. Synergy is one of the largest and most active landlords in the City with a growing portfolio that includes 3 million square feet, providing space to more than 350 businesses and organizations.
Synergy Investments focuses on commercial properties in Boston based on its belief in the long term fundamentals of the asset class and market. Its buildings have been consistently recognized as some of the best run in the city. Synergy’s attention to detail, teamwork and care in executing the asset’s operating plan translates into renewed leases at lower transaction costs as well as improved services and more efficient operations. This high level of responsiveness, professionalism and integrity all combines to produce one of the highest occupancy rates in the city.
For more on Synergy, please see www.synergy-inv.com.
GreenOak is a global partner-owned, real estate focused, principal investing, lending and advisory firm. Since 2011, GreenOak has raised $5.7 billion of equity to invest in various funds, targeted strategies and assets. With over 90 professionals in eight offices, the firm specializes in assets requiring significant repositioning through active property and asset management and/or redevelopment. For more on GreenOak, please see www.greenoakrealestate.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.