10/19/2007

Eastdil Secured orchestrates $170M sale of 50 Milk St. in Boston

by

50 Milk St.

Spanish investment company Ponte Gadea Group has agreed to purchase Boston's 50 Milk St. for $170 million from Hawaiian-based James Campbell Co.

Eastdil Secured represented the seller in the transaction.

The 21-story office building contains 275,000 square feet and is located in the heart of Boston's Financial District.

James Campbell Co. bought the building for $123 million in May 2005 from Barrington Capital Partners of Australia, which paid $109 million for the building in 2002.

Ponte Gadea Group is owned by billionaire Amancio Ortega.

Just across the street, 45 Milk St. sold for $33.9 million in June.

Address: 50 Milk St., Boston, Mass.

Size: 275,000 square feet

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Filed Under: Office

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