Oxford Properties Group has acquired One Marina Park Drive, a Class A office tower on Boston’s Fan Pier in the Seaport District, for US$435 million. The Toronto-based investor purchased the 18-story property from Clarion Partners, marking Oxford’s first acquisition of a core office asset in the United States in nearly a decade.
The Seaport District office tower is described by Oxford as a premier asset within one of Boston’s most in-demand office locations. The building is positioned on the waterfront at Fan Pier and is part of a broader mixed-use environment that Oxford characterizes as offering strong connectivity and a varied base of occupiers.
The acquisition follows a period in which Oxford significantly reshaped its global portfolio. Over roughly the past decade, the firm focused on diversifying across major real estate asset classes. Between 2018 and 2022, during a low interest rate environment, Oxford recycled approximately US$14 billion out of the office sector worldwide, while maintaining ownership of high-profile properties in Boston.
Since the start of 2025, Oxford has shifted back toward office investment, deploying approximately US$2 billion into the office sector globally. The purchase of One Marina Park Drive is part of that renewed deployment into office, targeting what the firm views as high-quality, well-located assets in key urban gateways.
Ankit Bhatt, head of US investments at Oxford Properties, said the company continues to identify opportunities to invest in premier office buildings in gateway cities that are well-located, well-amenitized, and positioned to benefit from occupier emphasis on quality. He said One Marina Park Drive fits this profile, citing its waterfront setting, diverse occupier mix, and strong connectivity within the Seaport District.
Market observers view the trade as notable in the context of Boston’s office investment market. According to reporting from the Boston Business Journal referenced in the announcement, the transaction is believed to be the highest price paid for a Boston office property since One Lincoln sold in 2006 for US$889 million. As a point of comparison on shifting office values, One Lincoln later sold at auction in early 2025 for US$400 million.
The sale of One Marina Park Drive highlights renewed capital deployment into select Boston office assets, even as broader office pricing in the market has reset in recent years. The deal underscores ongoing investor interest in top-tier properties in established urban districts, particularly where location, amenities, and tenant diversity support longer-term performance.
