Synergy and Axonic Capital acquire 358,406 s/f 265 Franklin St.

Boston, MA Synergy, a real estate investor, operator, and manager, and Axonic Capital, an alternative investment management firm, have acquired  265 Franklin St., a 21-story Class A office tower located in the downtown.

The acquisition marks the first joint venture between the two firms and establishes a new strategic relationship focused on investing in high-quality real estate opportunities. Together, Synergy and Axonic will leverage their complementary expertise to continue enhancing the property and delivering long-term value.

“265 Franklin St. is an exceptional asset located at one of the most important intersections in Downtown Boston,” said David Greaney, founder and CEO of Synergy. “Its institutional-quality construction, flexible floor plates, extensive recent capital improvements, and premier location create a compelling opportunity to continue enhancing the tenant experience while benefiting from the ongoing recovery and evolution of Boston’s office market. We are especially excited to establish this partnership with Axonic as we continue to grow our portfolio across Downtown Boston.”

“We’re excited to partner with Synergy, whose operating expertise and longstanding presence in Boston make them an ideal steward of 265 Franklin St.,” said Eric Sitman, managing director and portfolio manager at Axonic. “We have a high degree of conviction in Boston’s long-term fundamentals and believe today’s market presents a compelling opportunity to acquire institutional-quality Class A office assets at a reset basis.”

Situated on a full city block bounded by Franklin, High, Oliver, and Batterymarch Sts., 265 Franklin St. encompasses 358,406 rentable s/f and features a location between Post Office Square and the Rose Kennedy Greenway. The property offers immediate access to South Station, major MBTA transit lines, I-90 and I-93, as well as dining, retail, and hospitality amenities.

The property is occupied by a diverse roster of 27 tenants, including McCarter & English, Ares Management, White Mountains, Cerity Partners, Greater Boston Chamber of Commerce, and Rhumbline Advisers. Over the past decade, ownership has invested $18.6 million in base building capital improvements and an additional $26.5 million in tenant improvements, positioning the asset competitively within the market.

265 Franklin St. amenity package includes a full-service fitness center, Nourish Grab & Go, Dunkin’, and a two-level, 125-space parking garage. The property also maintains several industry-leading certifications, including LEED Gold, Energy Star NexGen, and WiredScore Platinum, underscoring its commitment to sustainability, operational efficiency, and digital connectivity.

“Downtown Boston remains one of the premier urban business environments in the country. We continue to see opportunities in acquiring and enhancing well-located assets that provide exceptional experiences for tenants and contribute to the long-term vitality of the city” said Matthew Godoff, executive vice president and head of investments at Synergy.

As Synergy continues to expand its footprint across Downtown Boston, the acquisition reflects the firm’s long-term confidence in the city’s office market and its commitment to investing in high-quality assets located within Boston’s most desirable business districts.