Hines and Calpers Buy a Pair of Riverfront Office Buildings

CAMBRIDGE, MA-In a deal expected to exceed $200 million, Hines Interests and a California pension fund have purchased a pair of class A office buildings lining the gateway to the booming East Cambridge office market.

Hines joins the California Public Employees Retirement System (Calpers) in acquiring One and 101 Main St. from Blackstone Real Estate Advisors.

“It’s a significant [complex] in a fantastic market,” says Hines vice president David Perry. While acknowledging that the deal has closed, Perry declined to provide details, citing an ongoing confidentiality agreement. He adds that a press release will be issued within a few days on the purchase of the complex, which is also known as the Riverfront Office Park. Calls to Calpers and New York-based Blackstone were not returned by press deadline.