Blackstone, Walton Buying One Boston Place

One of the few Financial District office towers still on the sales block is about to come under new ownership, as a joint venture led by Blackstone Real Estate Advisors is buying One Boston Place, according to industry sources. The sales price of the 770,000-sf property is said to be between $190 million and $200 million.

While none of the principals are talking, Blackstone is reportedly teaming up with Walton Street Capital, a Chicago-based group that focuses on value-added and opportunistic investments. “They are the ones,” insists a Boston investment specialist tracking the deal.

Although it is considered a class A property, the 41-story tower would seem to fit Walton’s investment strategy, given the amount of work that needs to be done. Now 30 years old, it needs a substantial overhaul, according to a source who previously looked at the property on behalf of another suitor.