Boston-based real estate investment and development firm Synergy Investments is continuing its spending spree, partnering with DivcoWest to buy a pair of office buildings and a parking garage in Boston’s Seaport District.
Synergy is paying The Archon Group $53 million for the sale of these three properties. The properties include 319 A Street, a 48,000-square-foot office building, and 327-337 Summer St, a 106,000-square-foot office building.
This purchase will add to Synergy’s wealth of property in Boston, particularly the Seaport District. The company owns 2.5 million square feet in more than two dozen office properties in downtown Boston. Of that number, nearly one million square feet are in Seaport, according to county records.
Regarding their recent acquisition of the Seaport properties, “Our joint knowledge of the market, combined with our existing holdings and relationships will enable us to execute our business plan and create value for our respective investors,” says David Greaney, Synergy’s president. (Boston Business Journal)