MEPT, Bentall Kennedy acquire USD250m in property in Boston.
BANKING AND CREDIT NEWS-January 16, 2015-MEPT, Bentall Kennedy acquire USD250m in property in Boston
(C)2015 M2 COMMUNICATIONS http://www.m2.com
Multi-Employer Property Trust (MEPT) and its real estate advisor, Bentall Kennedy (US) Limited Partnership said they have announced USD250 million of acquisitions in Boston's South End and Seaport District submarkets.
In three separate transactions, the fund acquired nine buildings totaling over 650,000 square feet with redevelopment and development opportunities, reflecting MEPT's strong interest and confidence in the Boston market.
"These acquisitions advance several aspects of the core strategy of the Fund," said David Antonelli, executive vice president and MEPT portfolio manager at Bentall Kennedy. "This strategy includes increasing investment in primary markets, acquiring office properties in urban locations within knowledge industries, and developing build-to-core projects in innovation-driven markets. Furthermore, the assets are a great fit with the MEPT portfolio and we are pleased that the Fund will significantly increase its investment in Boston."
Multi-Employer Property Trust is a USD7.0 billion, open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in 25 major metropolitan markets across the US. For more information, visit www.mept.com.
Bentall Kennedy is one of North America's largest real estate investment advisors and one of its foremost providers of real estate services. For more information, visit www.bentallkennedy.com.
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jan 16, 2015|
|Previous Article:||GMH Capital Partners forms joint venture with Principal Real Estate Investors.|
|Next Article:||Ontario Teachers takes majority stake in Shearer's Snacks.|