Source Pravda.Ru

Hancock Tower sold to New York Group for 3.3 billion dollars

Boston's tallest skyscraper, the John Hancock Tower, was sold to a New York real estate firm as part of a $3.3 billion (Ђ2.5 billion) deal for a package of buildings in four cities.

Beacon Capital Partners LLC sold the 60-story tower and nine smaller properties to Broadway Real Estate Partners LLC, Broadway announced Thursday.

The privately held company did not specify the price of individual buildings, but The Boston Globe quoted sources as saying the Hancock Tower and two smaller nearby buildings went for $1.3 billion (Ђ1 billion).

The 790-foot (237-meter) blue glass Hancock Tower is one of Boston's most recognizable landmarks. It was designed by famed architect I.M. Pei and completed in 1976. The sale package also included the Citigroup Center in Los Angeles, the Bank One Tower in Denver and 2445 M Street in Washington.

"This is a significant group of marquee properties in highly desirable markets," said Scott Lawlor, Broadway's founder and chief executive.

John Hancock Financial Services had sold the Hancock Tower and two nearby buildings, at 197 Clarendon St. and 200 Berkeley St., to Beacon Capital Partners in 2003 for $910 million, reports AP.

After the latest sale, Broadway immediately sold the two smaller buildings to Canadian financial services company Manulife Financial Corp. for $454 million (Ђ344.64 million), Manulife said Thursday. Manulife-affilated businesses already occupy about 60 percent of those buildings.