The designated redevelopers of the former Bayside Expo Center property have added to their Dorchester holdings with the acquisition of Santander Bank’s 12-acre property at 2 Morrissey Blvd.

Accordia Partners and Ares Capital paid $110 million for the site across from the since-demolished events hall containing five office buildings and surface parking. The purchase comes four months after Accordia Partners, led by developers Richard Galvin and Kirk Sykes, submitted the successful proposal to buy and redevelop the Expo Center property.

“With proximity to transit, the waterfront and the talent assets of UMass Boston, we are confident that this neighborhood is a strong investment,” Accordia Partners said in a statement.

Santander sold the property in 2017 to Boston-based Beacon Capital Partners for $41.5 million. Santander leased 425,737 square feet at 2 Morrissey Blvd. in January, with an expiration of June 2025. The bank did not respond to a request for comment.

University of Massachusetts officials selected Accordia Partners to redevelop the 20-acre former Bayside Expo property, across Mt. Vernon Street from 2 Morrissey Blvd., in February. Accordia Partners submitted an offer to pay up to $235 million for a 99-year ground lease and plans 3.4 million square feet of mixed-use development.