Barings, one of the world’s largest diversified real estate investment managers, today announced that they have partnered with Greatland Realty Partners to acquire 275 Grove Street in Boston MSA’s premier 128 West submarket. Located adjacent to Riverside Station at the western terminus of the MBTA Green Line, the property offers nearly 510,000 square feet of best-in-class office space, with an opportunity to convert into office and lab space.
“We are pleased to continue growing our presence in greater Boston with the acquisition of 275 Grove Street. We consider this project to be the best of its kind as it offers an unparalleled location in terms of accessibility and high-quality physical attributes that serve to attract top tier employers. The asset’s high occupancy since its development is proof of its strong positioning in the market,” said Kevin Miller, Head of Real Estate Acquisitions for the Eastern U.S.
The three-building campus, connected by a central atrium, is located at the intersection of I-95 and I-90, and includes onsite amenities such as a brand-new Kendall Café restaurant. The building occupants consist of leading health care, technology and innovation economy companies, including Siemens, Tech Target, Atrius Health and Parexel.
“275 Grove Street provides high-quality workspace for Boston’s top innovation-oriented companies, in a central location with access to public transit. We are excited to partner with Barings on this investment, which is a perfect complement to Greatland’s current portfolio of buildings in the market,” said Steve Spinale, Head of Investments and Capital Markets for Greatland Realty Partners.
About Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.
About Barings
Barings is a $362 billion global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.
About Greatland Realty Partners
Greatland Realty Partners is a Boston based developer and owner of strategic office, innovation, and life science workplaces. Our projects under development include Riverside Labs in Weston, a 340,000 SF lab campus, currently under construction, and Hartwell Labs in Lexington, a 272,000 SF build to suit opportunity. Our team consists of experienced real estate professionals with a deep understanding of developing, owning, managing, and leasing institutional quality commercial real estate. Our objective is to create a superior work experience for the occupants of our buildings while increasing the value of the properties we develop and own. Learn more at https://www.greatlandpartners.com/.
*Assets under management as of March 31, 2023
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Contacts
For Barings:
MediaRelations@Barings.com
For Greatland Realty Partners:
Diana C. Pisciotta
617-784-5256
dpisciotta@denterlein.com
