Transwestern Investment Co., on behalf of Aslan Realty Partners III, announced the acquisition of a 291,000-square-foot office building in Boston, Mass.
The value of the transaction was not disclosed.
The 11-story asset is located at 40 Broad St., situated between Faneuil Hall Marketplace and Post Office Square Park, in the heart of Boston’s Financial District, and is being acquired from Prudential Real Estate Investors acting on behalf of their investors.
According to Kevin Hites, Transwestern Investment Co. senior vice president of acquisitions, “40 Broad is an excellent fit for our Aslan III fund, given the property’s value-add characteristics, discount to replacement cost, and emerging location adjacent to the soon-to-be-completed Central Artery Project (Big Dig).”
Founded in 1996, Chicago-based Transwestern Investment Co. is a principal investment firm specializing in commercial real estate.
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