Starwood REIT Acquires 60 State Street in Downtown Boston for $614M
BOSTON — Starwood Real Estate Income Trust Inc. has acquired the leasehold interest in 60 State Street in downtown Boston. Local city records indicate a sales price of $614 million.
The 38-story office and retail tower spans 911,394 square feet. The tower’s major tenants include law firm WilmerHale, asset manager Amundi Pioneer, advertising technology solutions provider Criteo, and asset manager BlackRock.
A three-level Samuel Adams Tap Room, which opened earlier this year, anchors the retail portion. The building also features the State Room event space on floors 33 and 34 and a 240-space parking garage.
Institutional investors advised by J.P. Morgan Asset Management and Oxford Properties Group sold the asset. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell, Debra Gould and Gilbert Dailey of Newmark Knight Frank (NKF) oversaw the transaction, which marks the largest sales price recorded for an office asset year-to-date in Boston’s central business district, according to NKF.
Starwood Real Estate Income Trust is a nontraded REIT managed by Starwood Capital Group, a global private investment firm.
— Kristin Hiller