Kensington, Kimco Keep Back Bay Sales Brisk

BOSTON-If investment sales are hitting a wall, one would not know it in the city’s Back Bay district. Two more properties on Newbury St. have changed hands, while a landmark office/retail asset, 867 Boylston St., is said to be under agreement to the owner of Grand Circle Travel through his Kensington Investments firm.

Kimco Realty Corp. of New Hyde Park, NY, made its second substantial purchase on Boston’s iconic retail strip this year, paying $11.6 million for 127-129 Newbury St., while an affiliate of Horizon Associates spent $3.8 million for 329 Newbury St. Kimco officials refused comment on the latest acquisition. The firm in June secured 111-115 Newbury St. for $14 million.

Kimco is not the only company doing repeat business on Newbury St. The most prolific buyer has been Taurus Investments, a Boston-based company now operating on a global scale but intensely focused on Newbury St. Backed primarily by $150 million from Anglo Irish Bank Corp., Taurus has already acquired 22 assets on the thoroughfare this year. In an interview this week, Taurus president Peter Merrigan tells GlobeSt.com that the eclectic mile of shopping carries an international allure that makes even skittish Irish investors confident of the shopping destination’s resiliency. “As a long-term location, it can’t be beat,” says Merrigan, adding that Taurus continues to chase opportunities there as they arise.