June 27, 2017 Comments Off on Roseview/PMRG Sell Office Asset in Cambridge, MA Views: 679 Massachusetts, National News, Northeast

Roseview/PMRG Sell Office Asset in Cambridge, MA

Roseview-PMRG Fund I, a discretionary fund managed by Boston-based Roseview Investment Advisors, in partnership with Houston-based PMRG, divested 100 CambridgePark Drive, a Class A, five-story, 135,615-square-foot office building in Cambridge, MA to an undisclosed buyer in conjunction with operating partner Longfellow Real Estate Partners.

The asset had been acquired in December 2014 for $41.5 million. In 2016, a significant renovation of the property was completed. The building’s vacancy subsequently was boosted from from 78% to 96%.

Roseview’s Steve Corridan said, “As the first roundtrip office investment in our new Evergreen Fund, 100 CambridgePark Drive is a prominent example of successfully executing on our teams value-add investment strategy to reposition the building while consistently outperforming our initial underwriting and providing attractive risk-adjusted returns for our investors.”

NKF’s Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell oversaw the transaction.

Connect With Roseview’s Corridan

Connect With NKF’s Griffin

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.