Locally based Synergy and New York-based Axonic Capital have acquired 265 Franklin St., a 21-story Class A office tower in Downtown Boston. The acquisition marks the first joint venture between the two firms. The seller was Clarendon Properties and the acquisition price was $116 million, according to the Boston Business Journal.
“265 Franklin St. is an exceptional asset located at one of the most important intersections in Downtown Boston,” said David Greaney, Founder and CEO of Synergy. “Its institutional-quality construction, flexible floor plates, extensive recent capital improvements, and premier location create a compelling opportunity to continue enhancing the tenant experience while benefiting from the ongoing recovery and evolution of Boston’s office market.”
Situated on a full city block bounded by Franklin, High, Oliver, and Batterymarch streets, 265 Franklin Street encompasses approximately 358,406 rentable square feet. The property offers immediate access to South Station, major MBTA transit lines, Interstate 90 and Interstate 93, as well as numerous dining, retail, and hospitality amenities.
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