Skanska divests office development in Boston, for USD 452M, about SEK 3.8 billion
Skanska has sold its 101 Seaport office development for USD 452 million, about SEK 3.8 billion, to Union Investment Real Estate GMBH. The divestment will be recorded by Skanska USA Commercial Development in the first quarter of 2016.
The 41,000-square meter office building is 17 stories high and has almost 2,000 square meters of ground-floor retail. The project, which is LEED Platinum certified, was developed and built by Skanska. Major tenants include PwC, Red Thread/Steelcase and Skanska.
Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 10,000 employees and its 2015 revenues were SEK 54.5 billion.