According to Richards Barry Joyce & Partners, LLC (RBJ&P), RBJ | Capital Markets brokered the sale of 313 Washington St., acting as the exclusive sales agent on behalf of Transwestern Investment Co.
Taurus New England Investment Corp. purchased 313 Washington St. for $11.15 million. The building is comprised of 81,603 s/f of office space on four floors. Located off the Mass. Tpke. in Newton Corner, the building is surrounded by the three premier markets in Greater Boston - Downtown Boston, Cambridge and Waltham. The building is 91% occupied.
"The timing was right for a fund that Transwestern manages to sell," said Frank Petz, executive vice president at RBJ&P and head of the firm's RBJ | Capital Markets group. "313 Washington St. is a stabilized asset in a submarket that is strong and continuing to tighten. The offering attracted a significant amount of investor interest. RBJ | Capital Markets also arranged very favorable financing, which will allow Taurus to achieve strong levered returns for their investors."
Transwestern was represented by RBJ&P's Petz and James Tribble.