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RREEF Sells One Winthrop Sq.

BOSTON-The 114,257-square-foot office/retail was snapped up by an affiliate of Germany-based GLL Partners.

By Ryan Clark | Updated on July 29, 2009

BOSTON-RREEF parted ways with its five-story office/retail building–One Winthrop–located in the Financial District here to an affiliate of Munich, Germany-based GLL Partners. The 114,257-square-foot property was sold at 95% occupancy. Cushman & Wakefield, which represented the seller and procured the buyer, did not disclose the price of the transaction.

The property, at the corner of Otis and Devonshire streets has a 19th century exterior aesthetic, but has been renovated twice, in 1990 and then again in 2008. The transaction was all in cash and done as a “portfolio balancing” for RREEF, according to Ed Maher, executive director at C&W.

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