Ivanhoé Cambridge and Callahan Capital Properties are set to buy four high-grade office buildings situated across the United States for more than US$225 million.
Assets include the three-building, brick-and-beam Channel Center in Boston’s Seaport District and an office located at 410 17th Street in Denver’s central business district. Each property totals 251,394 and 434,740 square feet, respectively.
The partners will also invest in 180 North LaSalle Street, a 38-storey, 768,859-sqaure-foot office building in Chicago’s central business district, as well as a 16-storey, 467,830-square-foot property at 330 Hudson Street in Manhattan’s Hudson Square submarket.
“This transaction furthers our strategy of acquiring well-located, high-quality office properties in key U.S. cities,” said Arthur Lloyd, executive vice-president, office, North America at Ivanhoé Cambridge. “Our focused approach of building critical mass in each market reinforces our local presence and strengthens our overall national platform.”
Tim Callahan, chief executive officer of Callahan Capital Properties, said the assets will allow the company to expand value through lease-up and targeted investments, while offering locational and aesthetic features that appeal to creative and traditional space users.
All properties will be acquired from Beacon Capital Partners.
