Gazit Horizons Buys 50,000 SF Retail, Office Building in Boston for $45M

BOSTON —Gazit Horizons, a subsidiary of global real estate firm Gazit-Globe, has purchased a 50,000-square-foot office and retail building located at 1430 Massachusetts Ave. in Boston. University Common Real Estate sold the property for $45 million in an off-market transaction. The historic building is located within the Harvard Square area and was originally constructed in the 1830s as a dormitory for the Ivy League university. Gazit Horizons will implement a value-add program that will renovate the lobby, common areas and building systems and will operate the building in a joint venture with private investment firm Hennick & Co.