Everest Partners Takes Three Buildings for $18M

BOSTON-It took less than two years for New York City-based Everest Partners to establish a solid Boston presence. The firm has just paid $18.1 million for the acquisition of three key Financial District office buildings from LNR Partners of Miami Beach.

“This was an opportunity to solidify our presence downtown,” Everest’s regional manager Steve McDonnell, tells GlobeSt.com. McDonnell says the firm has been working one and a half years to gain a solid foothold in Boston. The firm’s acquisition of 85 Devonshire and 258 and 262 Washington St. along with two prior Financial District purchases makes the company a key stakeholder in downtown Boston’s hot office market.

McDonnell says Everest has plans to upgrade common areas in the three buildings and expand the properties’ ground floor retail to about 15%.