Equity Commonwealth has sold three office buildings in Braintree and Quincy to Lone Star Funds for $23.3 million as it continues to shed assets across the U.S.

The Chicago-based REIT sold One and Two Adams Place, a pair of 124,777-square-foot and 99,857-square-foot office buildings on the Braintree-Quincy line, for $16.5 million on June 5, according to Norfolk County Registry of Deeds documents. It also sold 2300 Crown Colony Drive, a 45,586-square-foot office building in Quincy, for $6.8 million.

Equity Commonwealth has sold 56 properties totaling $817 million since January and has another 32 properties on the block, according to the company. The strategy is to sell up to $3 billion in office assets.

Dallas-based Lone Star recently formed its latest fund, Lone Star Real Estate Fund IV, in April and has capital commitments of $5.8 billion, according to a press release. The fund will invest in commercial real estate in the Americas, Europe and Japan.

Equity Commonwealth Sells Three Braintree And Quincy Properties For $23.3M

by Banker & Tradesman time to read: 1 min
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