Rockpoint Acquires Boston’s 99 Summer Street

BOSTON--()--Affiliates of Boston-based Rockpoint Group, L.L.C. ("Rockpoint") today announced they have acquired 99 Summer Street, located in Boston, from Cornerstone Real Estate Advisors. Terms of the transaction were not disclosed.

The 20-story Class A building contains approximately 270,000 square feet of office and retail space and is approximately 95% leased. The property will be managed by a Rockpoint affiliate, Rockhill Management (“Rockhill”), which provides property management and related services for investments made by Rockpoint-sponsored funds. In Boston, Rockhill also provides property management services for Rockpoint’s 75-101 Federal Street and Tower Point investments.

About Rockpoint Group

Rockpoint Group, L.L.C. is a real estate private equity firm headquartered in Boston, with additional primary offices in Dallas and San Francisco. Since 1994, Rockpoint’s founding Managing Members, with others, have sponsored twelve commingled funds and related co-investment vehicles, raising approximately $17 billion in capital commitments and investing approximately $13 billion of equity in over 360 transactions with a total capitalization of approximately $48 billion. Rockpoint employs a fundamental value approach to investing in both its opportunistic and lower-risk strategies and focuses on select product types and geographic regions, with a primary emphasis on opportunities in major coastal markets in the United States.

Contacts

Rockpoint Group
Hank Midgley, 617-530-3973
Cell: 617-794-3116
Principal
www.rockpointgroup.com
or
Owen Blicksilver Public Relations, Inc.
Caroline Luz, 203-656-2829
caroline@blicksilverpr.com