An affiliate of Goldman Sachs has paid $94.5 million to acquire 10 Milk St./294 Washington St. in Boston’s Downtown Crossing.

Boston-based Synergy Investments and GreenOak Real Estate previously acquired the 11-story, 230,209-square-foot office and retail building in 2014 in exchange for the assumption of a $58 million defaulted loan.

The transaction includes a $50 million mortgage from Life Insurance Co. of the Southwest at a 3.9 percent interest rate with a maturity date of March 2023. The sales price works out to $410 per square foot.

Built in 1903, the property located above the MBTA’s State Street station has benefited from the recent rejuvenation of the Downtown Crossing neighborhood and demand for transit-friendly workspaces. Home security company SimpliSafe recently doubled its office space in the building with a 20,271-square-foot lease expansion after relocating from Cambridge in late 2014.

Once-Distressed Office Building Sold For $94.5M

by Banker & Tradesman time to read: 1 min
0