Medical office building sold for $20m
March 13, 2007 06:34 PM
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Lexington Realty Trust, a real estate investment trust, said today that it has bought a downtown Boston medical office building for $20 million.
The 52,000-square-foot, 10-story building is leased to Harvard Vanguard Medical Associates. The lease expires in 2012.
The New York company said the purchase is part of a focus to enhance its position in major metropolitan areas. The building is Lexington's first purchase in downtown Boston. The company has six properties in the area.
JER Partners, the private equity investment arm of McLean, Va.-based J.E. Robert Cos., sold the property.
(AP)
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