Synergy closes on $365M Center Plaza acquisition

Boston Business Journal | By Catherine Carlock
April 12, 2017

Boston-based real estate firm Synergy Investments has closed on its $365 million acquisition of 1-3 Center Plaza, the sprawling, curved office and retail complex adjacent to Boston’s Government Center, according to a Suffolk County deed. The 741,000-square-foot office and retail complex, located adjacent to Boston’s Government Center, includes 525 parking spaces.

The Business Journal first reported on the pending transaction last month.

Synergy bought Center Plaza from Shorenstein Properties of San Francisco, which itself had bought the complex in 2014 for $307 million. Shorenstein had planned a $25 million refurbishment at Center Plaza, but work never fully commenced.

Center Plaza rises nine stories and is spread across three separate buildings, with a retail base and 525 parking spaces. The $365 million deal to acquire the 741,000-square-foot complex is the biggest yet for Synergy.

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