Colony Realty Completes $82M Portfolio Buy

FRAMINGHAM, MA-A quartet of buildings in one of suburban Boston’s most vibrant office markets has been acquired by Colony Realty Partners for $82 million, as the Boston-based real estate group takes 395,000 sf divested by another local firm, Maric Inc. The properties include such market-leading addresses as the Meadows on Route 9 and the Framingham Corporate Center, which fetched the highest price at $37 million.

The Meadows, located at 155 and 161 Worcester Rd. (Route 9), traded for $25 million, while Maric Inc. harvested 959 Concord St. for $13.7 million and 125 Newbury St. for $5.2 million. GlobeSt.com previously reported that CRP and Maric were negotiating to complete the off-market transaction, which was orchestrated by the Boston office of Eastdil Secured. Maric paid an aggregate of $42 million in buying the building between 1995 and 2005.

Although the sale has closed, efforts to wean a response from the parties involved were unsuccessful, as in the case of the original article. CRP officials declined comment and Maric principal Mark Rubin did not return a call by press deadline. Also keeping mum are brokers at Eastdil Secured, whose Boston team includes James McCaffrey, Peter Joseph, Christopher Phaneuf and Sara Lagosh.