Bulfinch Strengthens Portfolio with the Acquisition of 10 Brookline Place
BOSTON, MA – December 31, 2018
Bulfinch, a private real estate investment, development and management firm, today announced that an affiliate of the company has completed the acquisition of 10 Brookline Place in Brookline, MA.
The property consists of six floors and totals approximately 173,000 sf of office space with 240+/- garage parking spaces located on 1.7 acres of land. Strategically located at the entrance to the Longwood Medical Area (LMA), the property is adjacent to a major new Children’s Hospital facility and an eleven-story Hilton Garden Inn, both under construction. The property abuts the Green Line’s Brookline Village MBTA stop and is a scheduled stop for the MASCO shuttle, which provides free transportation to tenants in the LMA.
The building is 100% leased to Dana-Farber Cancer Institute. This acquisition builds upon Bulfinch’s existing landlord/tenant relationship with Dana-Farber which has leased 140,000 sf on two floors at Bulfinch’s Life Time Center, a medical and wellness property on Route 9 in Chestnut Hill. Dana-Farber’s facility at Life Time Center is anticipated to open to patients in 2020.
“10 Brookline Place’s highly desirable location at the entrance to the Longwood Medical Area and its proximity to major hospitals, research institutions and public transportation made the asset an excellent investment and addition to our diversified portfolio of properties in Greater Boston,” said Eric Schlager, CEO of Bulfinch. “We are excited to bring our entrepreneurial spirit and commitment to this asset, and we look forward to our expanded relationship with Dana-Farber, as well as adding value to the neighborhood.”
The acquisition adds to Bulfinch’s growing portfolio in Brookline, Cambridge, and Chestnut Hill and is consistent with the firm’s vision of acquiring premier assets in Boston’s core markets.