Press Release April 14, 2016

Skanska USA Completes $452 Million Sale of 101 Seaport to Union Investment

Goodwin Procter represented Skanska USA Commercial Development in its sale of 101 Seaport, a 17-story, 440,000-square-foot LEED Platinum office building in Boston, Mass., to Union Investment Real Estate GmbH for $452 million.

Skanska USA Commercial Development invests in and develops customer-focused, highly sustainable office and multi-family properties in Boston, Houston, Seattle and Washington, D.C. Since 2009, Skanska has invested approximately $1.5 billion in nearly a dozen projects in its select markets. Skanska self-finances the majority of its projects and serves as the construction manager. 

Union Investment is a leading international investment company specializing in open-ended real estate funds for private and institutional investors. Union Investment has assets under management of €29.9 billion in 20 real estate funds. Established in 1965, Hamburg-based Union Investment Real Estate GmbH is the specialist for private real estate investment within the Union Investment Group.

The Goodwin team advising Skanska included partner Alex Randall, associate Reade Everett and senior paralegal Linda Blake.

Goodwin has represented Skanska throughout the development and leasing of 101 Seaport including Skanska’s 15-year, 333,000 square foot lease to PricewaterhouseCoopers. The lease transaction was named the 2014 Boston Real Estate Deal of the Year by the Boston Business Journal.

For more information on the 101 Seaport sale, please view Skanska’s press release.