Newmark Orchestrates Recapitalization of 75-101 Federal; Rockpoint Sells 50% Stake To CarrMarch 19, 2020
BOSTON— Newmark Knight Frank successfully completed the sale of a 50 percent interest in 75-101 Federal Street in Downtown Boston to Carr Properties. Co-Head of U.S. Capital Markets Robert Griffin, Vice Chairman Edward Maher, Executive Managing Director Matthew Pullen and Managing Director Samantha Hallowell of NKF’s Boston Capital Markets group oversaw the transaction of the trophy mixed-use tower.
Comprising two interconnected 21- and 31-story towers, 75-101 Federal Street encompasses 853,319 square feet of office, retail and amenity space complemented by a 175-space, below-grade parking garage. The property benefits from significant capital improvements that Rockpoint Group completed in recent years, highlighted by a fully-activated lobby and retail component - including a host of fitness, dining and convenience amenities.
“75-101 Federal Street is one of Boston’s most recognizable and architecturally significant business addresses,” said Maher. “The property offers an exceptional combination of recent capital improvements, tangible upside potential and a superior location.”
According to Newmark’s release, 75-101 Federal Street facilitates a seamless commute with walkability to South Station, one of Boston’s two primary transit hubs, complemented by swift access to Interstates 90 (Massachusetts Turnpike) and 93 as well as Logan International Airport.Edward Maher