Toronto-based Oxford Properties Group said Wednesday it had acquired One Marina Park Drive, an 18-story Class A office tower located on Fan Pier in Boston’s Seaport District, from Clarion Partners for US$435 million. The deal represents Oxford’s first acquisition of a core office asset in the U.S. in nearly a decade
Oxford has spent the past decade diversifying its holdings across major asset classes and recycled approximately US$14 billion out of the office sector globally during the low-rate environment from 2018 to 2022, although it has continued to own high-profile properties in Boston. More recently, it has ramped up office investment, deploying approximately US$2 billion into the sector globally since the start of 2025.
“We continue to see compelling opportunities to invest in premier office assets in gateway cities that are well-located, well-amenitized and positioned to benefit from the increasing focus on quality,” said Ankit Bhatt, head of US investments at Oxford Properties. “One Marina Park Drive exemplifies that opportunity. It combines a premier waterfront location, a diverse occupier ecosystem, and exceptional connectivity within one of Boston’s most desirable office districts.”
The transaction is believed to represent the highest price paid for a Boston office property since One Lincoln sold in 2006 for $889 million, according to the Boston Business Journal. As a measure of what were then declining office values in Boston, One Lincoln sold at auction for $400 million in early 2025.
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