The two buildings, totaling 127,732 sf, are located near North Station and South Station. 186 Lincoln Street, located adjacent to South Station, is a nine-story office building totaling 67,968 sf. Built in 1904, it was fully renovated in 1986. 225 Friend St., located adjacent to North Station, is an eight-story office building totaling 59,763 sf. Built in 1913, it was fully renovated in 1985.

Gary J. Lemire, senior vice president/partner of CB Richard Ellis/Whittier Partners, represented the seller, Meridian Investment Management. The acquisition represents the third venture between Praedium and Essex River Ventures. Previously, the firms purchased Manor Parkway, a three-building 121,500-sf office/flex development in Salem, NH, and Great Woods Office Park, a two-building office park totaling 57,769 sf in Mansfield, MA.

Philip Tager, director of the Praedium Group notes that the firm anticipates that both properties will benefit from the completion of the Big Dig--the massive highway project in the city--as well as other infrastructure improvements and amenities which he believes "will enhance the appeal of the North Station and South Station submarkets."