Boston

The deal marked the first sale in JAG's Income Fund. The community was acquired through a joint venture with KKR and JAG in 2017.

The nine-acre property at 3130 Route 10 was sold by Denville Commons Associates LP. Cushman & Wakefield represented the seller and procured the buyer in the transaction.

The Asian investor contributed approximately $26 million for the 12th property in addition to the approximately $82 million contributed for the initial 11 properties last month.

The Philadelphia-based retail REIT estimates the measures will create nearly $300 million in incremental liquidity.

In addition, the REIT states that several planned portfolio sales will likely be delayed until later this year or next year due to the lack of financing available for hotel transactions.

Multiple published reports state the sale price for the property was $614 million, making the deal the largest sale price recorded for an office asset year-to-date in Boston's Central Business District.

Gov. Baker has also directed the Department of Public Health to issue a stay at home advisory outlining self-isolation and social distancing protocols. Residents are advised to stay home and avoid unnecessary travel and other unnecessary activities during the two-week time period.

The moratorium was imposed on Wednesday and is in effect until further notice. The action by Cambridge comes a day after Boston Mayor Martin Walsh instituted a construction ban in the City of Boston. To date, Massachusetts Gov. Charlie Baker has not called for a construction work stoppage statewide.