BOSTON-The joint venture of Normandy Real Estate Partners and Five Mile Capital Partners is finalizing the sale of the iconic John Hancock Tower to Boston Properties. GlobeSt.com originally reported the sale in early October, however the sale closed recently at $930 million, which accounts for the iconic office tower and 100 Clarendon St., a 2,013 space parking garage.

The property was purchased for $660.6 million by the joint venture in 2009. After 18 months repositioning the tower, the JV followed its plan of turning the property around. The Hancock Tower became available when previous owner Broadway Real Estate defaulted on $700 million of debt.

The 62-story class A office tower is located at 200 Clarendon St. in the Back Bay district of Boston. It stands at 97% occupancy and boasts panoramic views of the city, as it is the Hub’s tallest building. Cushman & Wakefield's Capital Markets Group represented the seller and procured the buyer. The group is comprised of Griffin and Edward C. Maher, Jr., as well as William Anderson, Gilbert Dailey and David A. Martel.