Boston, MA NKF Capital Markets has completed the sale of 41 Winter St. to Gazit Horizons, Inc., a subsidiary of Israel-based Gazit-Globe, for $24.8 million ($864 per s/f). U.S. head of capital markets Robert Griffin, Vice chairman Edward Maher, executive managing directors Geoffrey Millerd and Matthew Pullen, managing director Justin Smith, associate director Paul Penman and financial analyst Christopher Peterson of the NKF capital markets office oversaw the transaction of the 28,690 s/f building on behalf of Frazer Capital.
41 Winter St. was transformed by a complete renovation undertaken by the seller, Frazer Capital, which created an urban mixed-use asset. Presently 100% leased, 41 Winter St. is anchored by a flagship lease to Liberty Travel.
“This asset offers an attractive combination of stable in-place income and achievable upside potential, located directly adjacent to excellent public transportation,” said Penman. “It also represents another very successful execution for Frazer Capital, which acquired the property for $12 million in January 2016.”
41 Winter St. is located in the Downtown Crossing district of the city, which has experienced significant investment in recent years. The property is located near two MBTA subway stations and surrounded by some of the city’s newest retail, restaurant, hotel and residential developments.
Newmark Knight Frank (NKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents. With roots dating back to 1929, NKF’s strong foundation makes it one of the most trusted names in commercial real estate. NKF’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, corporate advisory services, consulting, project and development management, property and corporate facilities management services, valuation and advisory services, and capital markets services provided through its NKF Capital Markets brand.