Blackstone is buying the 179 Lincoln Street office building for about $156m (€140.2m), according to people familiar with the matter.

Invesco Real Estate paid $75m to acquire the asset in 2012 and had since invested an additional $22m into the property on upgrades and tenant improvements. The property has a current occupancy level of 88%.

The listing agent on the sale of the asset is Newmark Group.

According to sources, Blackstone has agreed to buy the 221,000sqft building in a deal expected to close in the near future.

Blackstone declined a request for comment.

 

Topics