Florida-based firm Kayne Anderson has acquired 147 Milk St. in Boston’s financial district for $36 million from German investor KanAm Grund, who had purchased it in 2021 for $48 million. The property spans over 52,000 square feet and is anchored by Atrius Health, with additional tenants including Beneski Chiropractic Health & Wellness Center and a midwife practitioner.
The current state of Boston’s office sector is facing challenges as properties are selling at significantly lower prices compared to previous years. For instance, Kendall Capital recently bought 33-41 West St. at a discounted price of $4.1 million (a reduction of 74% from its value in 2016), while Rhino Capital Advisors acquired an office building on Canal Street for $14.6 million (down from its original price of $24 million in the year). This trend highlights the impact that COVID-19 has had on commercial real estate markets across the country.
In summary: Florida-based firm Kayne Anderson acquires a prime office space located at Boston’s financial district for an estimated amount worth USD36Mn; this purchase was made possible after German investor KanAm Grund sold off their asset which they initially procured back during early months of year twenty-twenty-one when it was valued around USD48Mn; this fifty-two thousand square foot area features prominent names such as Atrius Health along with other notable tenants like Beneski Chiropractic Health & Wellness Center plus one midwife practitioner; however due to ongoing pandemic situation within United States especially within Massachusetts region where city lies – there have been numerous cases reported regarding downfall experienced by local economy specifically related towards commercial real estate industry thus resulting into significant drop observed when comparing present market rates against past ones – recent examples include instances where Kendall Capital managed acquire thirty-three forty-one west street paying only four point one millions dollars which translates into seventy-four percent discount compared to what it was worth back in year twenty-sixteen while Rhino Capital Advisors also purchased an office building situated on Canal Street for fourteen point six millions dollars which is almost ten million less than its original price tag of twenty-four millions during year twenty-twenty-one.
