“That is exactly what has happened at CenterPoint during our ownership and we believe this successful exit supports our initial investment thesis,” he says. “We are also pleased that our valued joint venture partner, Saracen Properties, will be able to continue to be a part of the new ownership group and the asset's success in the future.”

NKF Capital Markets vice chairman Edward Maher and executive managing director Matthew Pullen of the firm's Boston office, which is led by co-head of U.S. Capital Markets Robert Griffin, oversaw the transaction on behalf of Rubenstein in conjunction with Newmark Knight Frank executive managing director Mark Roth.

CenterPoint is situated within the Charles River Mill District, which comprises 2.6 million square feet of synergistic office, technology, manufacturing and industrial space in addition to a wealth of amenities and approximately 1,000 newly-constructed residential units at the convergence of Newton, Watertown and Waltham. The property also benefits from swift connections to Interstates 95 (Route 128) and 90 (Massachusetts Turnpike).

“CenterPoint represents an exceptional creative office retrofit with first-class tenant buildouts, state-of-the-art building systems, high ceilings and efficient floor plates,” said NKF's Pullen. “The complex also boasts an attractive infill location within a thriving suburban Boston innovation cluster.”

In other sale/disposition activity, Rubenstein Partners reports it has acquired the 227,000-square-foot Research Plaza office complex here for $38 million, increasing its office portfolio in the Washington, DC market.