Ropes & Gray Represents Starwood Capital Group in Acquisition of 60 State Street, Boston
Ropes & Gray advised Starwood Real Estate Income Trust, an affiliate of Starwood Capital Group, in the acquisition of 60 State Street, a Class A 38-story office/retail tower in downtown Boston from a joint venture of JP Morgan and Oxford Properties. The transaction was valued at approximately $614 million. The transaction closed on March 20
As a result of the transaction, Starwood Capital acquired the existing ground tenant with a long-term leasehold interest in the property. Ropes & Gray also handled the property management agreement whereby Carr Properties agreed to manage the property. Starwood Capital Group is a leading global private investment firm that invests in and manages diversified portfolios across real estate asset classes.
The Ropes & Gray team was led by real estate partner Walter McCabe, and included real estate associates Michael Allen, James Lobo and Katherine Hyland and corporate associate Anne Loeb (all of Boston).