A joint venture between locally based Synergy and New York-based Axonic Capital has acquired 265 Franklin Street, a 21-story Class A office tower in Downtown Boston. The transaction marks the first partnership between the two firms, with Clarendon Properties selling the asset. According to the Boston Business Journal, the purchase price was $116 million.
Synergy Founder and CEO David Greaney described 265 Franklin Street as an exceptional property positioned at a key intersection in Downtown Boston. He highlighted the tower’s institutional-quality construction, flexible floor plates and extensive recent capital improvements as core attributes. Greaney also pointed to the building’s location as a central advantage, noting that it offers a platform to further enhance the tenant experience while participating in the ongoing recovery and evolution of Boston’s office market.
The office tower occupies a full city block bounded by Franklin, High, Oliver and Batterymarch streets. It contains approximately 358,406 rentable square feet, positioning it as a sizable Class A asset within the downtown office inventory. Its scale and configuration provide the joint venture with the ability to accommodate a range of tenant layouts and space needs within a single building.
265 Franklin Street offers immediate access to South Station and major MBTA transit lines, connecting tenants to regional commuter rail and local transit services. The property also provides convenient connectivity to Interstate 90 and Interstate 93, supporting accessibility for both urban and suburban commuters. These transportation linkages underscore the building’s role as a core downtown location within Boston’s office market.
In addition to transit and highway access, the property is surrounded by a wide selection of nearby dining, retail and hospitality amenities. This concentration of services supports daily tenant needs and reflects the building’s placement within a highly activated downtown environment. For the Synergy and Axonic Capital joint venture, the combination of Class A quality, recent capital work, full-block presence and central location forms the basis of the investment thesis at 265 Franklin Street.
The acquisition underscores ongoing interest in well-located, institutional-quality office towers in Downtown Boston, even as the broader office sector continues to adjust. With a significant rentable square footage footprint and direct access to core transportation infrastructure, 265 Franklin Street positions the new ownership venture to engage with both existing and prospective tenants as market conditions evolve.
