Cushman & Wakefield of Massachusetts principal Edward Maher, who participated in both transactions involving 45 Milk St. LP, confirmed that an agreement has been struck, but declined to identify the winners or provide financial details. Anglo-Irish officials tell GlobeSt.com that, "We are familiar with this transaction, but have nothing to report at this time." Sources, however, pegged Anglo-Irish as the buyer for its client.

A member of C&W's renowned New England investment sales team, Maher did say he was surprised by the crush of capital pursuing 45 Milk St. Even in anticipating substantial interest given the lack of opportunities and the property's various strengths, "We had no idea it would be as sought after as it was," Maher tells GlobeSt.com. There were 13 actual bidders, he reports, five from overseas and the remainder representing domestic capital, among those a mix of private and institutional funds.

The robust response led to an accelerated marketing process, acknowledged Maher, who says the campaign was launched in mid-May and culminated a few weeks later after Anglo-Irish survived a spirited final process. A closing could occur as early as next week, sources estimate. Besides the number of bidders, which Maher says had to be restricted early on, those who chased 45 Milk St. were not easily turned away. "Once people see the building, they fall in love with it," says Maher.

Constructed in 1893 as one of Boston's first "skyscrapers," 45 Milk St. still sports many of the architectural details from the city's bygone era. As detailed in a GlobeSt.com article last month reporting the property's availability, the structure was added onto in 1906 and is still known as the International Trust Co. building.

Technically a class B office property, 45 Milk St. has the tenant roster and performs to class A levels, says Maher. During the current ownership's tenure, occupancy never dipped below 91%, he says, and 45 Milk St. is fully leased today, as it has been for all except three of the years held by the group.