“101 Seaport has been a catalyst for the transformation of the neighborhood and we look forward continuing to deliver the most sustainable and efficient buildings along Seaport Boulevard with the completion of Watermark Seaport and the development of 121 Seaport,” Leatherbee says. He notes that the high sale price is a testament to the strength of the Seaport submarket and the overall Boston real estate market as well.

He adds that the 101 Seaport Blvd. project shows the strength of Skanska as both a construction firm and a developer. “In just over two years we transformed a parking lot into a world class LEED Platinum office tower,” Leatherbee says.

When Skanska broke ground on the project in 2013, documents filed with the BRA estimated the construction value of 101 Seaport Blvd. at $126 million. Leatherbee refused to discuss Skanska USA's total investment in the property, but did say that the firm was pleased with the sale price. Skanska put the property on the market for sale in January and the property attracted significant domestic and international interest. He says that Union Investment Real Estate was the highest qualified bidder for the property.

Newmark Grubb Knight Frank's Robert E. Griffin, Jr., Edward Maher, and Matthew Pullen represented Skanska on the sale. Bill Anderson and David Martel, also from Newmark Grubb Knight Frank, represented Skanska on the leasing of the property.

In a statement, Tal Peri, head of U.S. East Coast & Latin America at Union Investment Real Estate GmbH, states, “After the acquisition of The Godfrey Hotel and the Converse headquarter at Lovejoy Wharf, we are pleased to have strengthened our foothold in the important and economically very stable gateway market of Boston with the acquisition of this trophy building at 101 Seaport Boulevard.”

Matthew Scholl, head of investment management Americas at Union Investment Real Estate GmbH, adds, “Seaport is Boston's innovation district. It is where the younger, well-educated workforce of the city, who value a central location, excellent transport links and proximity to leisure and cultural venues, want to be. From medical to bio-tech, companies from a huge range of sectors have discovered the many benefits of the location.”

Union Investment's actively managed real estate portfolio in the US now amounts to 15 properties worth approximately $3.8 billion.

BOSTON—Six months after completion, Skanska USA has sold its 101 Seaport Blvd. office building here for $452 million to German real estate investment management firm Union Investment Real Estate GmbH.

The deal increases Union Investment's real estate portfolio in Boston. The owner of the Godfrey Hotel Boston purchased the Converse headquarters building in Boston from Related Beal earlier this month for $150 million.

Skanska broke ground on the a 17-story, 440,000-square-foot LEED Platinum office building on Sept.19, 2013 and delivered the property on Oct.1, 2015, according to Charley Leatherbee, EVP of Skanska USA Commercial Development. The property serves as the New England headquarters for PricewaterhouseCoopers. PwC, the anchor tenant of the building, in January of this year amended its lease by adding another 25,000 square feet, which will increase the company's presence at the property to approximately 355,000 square feet.

Other tenants at 101 Seaport include Red Thread/Steelcase (15,000 square feet) and Skanska, which occupies approximately 28,000 square feet. The building is currently 92% leased.

“101 Seaport has been a catalyst for the transformation of the neighborhood and we look forward continuing to deliver the most sustainable and efficient buildings along Seaport Boulevard with the completion of Watermark Seaport and the development of 121 Seaport,” Leatherbee says. He notes that the high sale price is a testament to the strength of the Seaport submarket and the overall Boston real estate market as well.

He adds that the 101 Seaport Blvd. project shows the strength of Skanska as both a construction firm and a developer. “In just over two years we transformed a parking lot into a world class LEED Platinum office tower,” Leatherbee says.

When Skanska broke ground on the project in 2013, documents filed with the BRA estimated the construction value of 101 Seaport Blvd. at $126 million. Leatherbee refused to discuss Skanska USA's total investment in the property, but did say that the firm was pleased with the sale price. Skanska put the property on the market for sale in January and the property attracted significant domestic and international interest. He says that Union Investment Real Estate was the highest qualified bidder for the property.

Newmark Grubb Knight Frank's Robert E. Griffin, Jr., Edward Maher, and Matthew Pullen represented Skanska on the sale. Bill Anderson and David Martel, also from Newmark Grubb Knight Frank, represented Skanska on the leasing of the property.

In a statement, Tal Peri, head of U.S. East Coast & Latin America at Union Investment Real Estate GmbH, states, “After the acquisition of The Godfrey Hotel and the Converse headquarter at Lovejoy Wharf, we are pleased to have strengthened our foothold in the important and economically very stable gateway market of Boston with the acquisition of this trophy building at 101 Seaport Boulevard.”

Matthew Scholl, head of investment management Americas at Union Investment Real Estate GmbH, adds, “Seaport is Boston's innovation district. It is where the younger, well-educated workforce of the city, who value a central location, excellent transport links and proximity to leisure and cultural venues, want to be. From medical to bio-tech, companies from a huge range of sectors have discovered the many benefits of the location.”

Union Investment's actively managed real estate portfolio in the US now amounts to 15 properties worth approximately $3.8 billion.