Transwestern Buys 810,000-SF Financial Towers

BOSTON-Transwestern Investment Corp. has acquired two inter-connected class A office towers, totaling 810,000 sf in the Boston Financial District. It is the Chicago investment group’s second buy in less than a year in the district.

The 90%-leased landmark at 75-101 Federal St. was sold by BeaMetFed Inc., a joint venture between Equity Office Properties Trust and General Motors Pension Fund. Details about the deal will be forthcoming, but the Federal Street asset was bought on behalf of its Aslan Realty Partners III fund, an institutional equity fund with $800 million in capital commitments.

“The property is well positioned to capitalize on improving fundamentals in downtown Boston,” Steven Quazzo, Transwestern’s CEO, says in a press release. He nor Kevin Hites, Transwestern’s senior vice president of acquisitions, were available prior to press time.