The 15-story office building sits on a 0.6-acre lot and has subterranean parking. Behringer Harvard Opportunity REIT II has put up $1 million of earnest money. The REIT says it will close on the transaction subject to several conditions, not the least of which is being able to obtain "sufficient net proceeds from the offering of our common stock to the public and financing proceeds to make this acquisition."
"In evaluating this building as a potential acquisition and determining the appropriate amount of consideration to be paid for 1875 Lawrence, we have considered a variety of factors, including overall valuation of net rental income, location, demographics, quality of tenants, length of the tenants' leases, price per square foot, and occupancy," the company says in an SEC filing.
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