December 17, 2015
German investment firm Union Investment Real Estate GmbH is reportedly ready to close on the 214,000-sf Converse Headquarters at 160 N. Washington St. in Boston. The $150 million deal is expected to be finalized before the end of the year, and will be Union’s first office acquisition in that city.
Real estate sources say the headquarters building, situated on .75 acres of waterfront property and containing a flagship retail store, attracted a great deal of interest from investors. Converse relocated its headquarters from North Andover, MA during summer 2015.
Union is no stranger to Beantown – the Hamburg-headquartered investor spent $174 million on the 242-room Godfrey Hotel Boston acquired from Oxford Capital Group in Chicago. The hotel is at 505 Washington St.