07/29/2019

CARR INCREASES OWNERSHIP IN ONE CONGRESS: Carr Properties Acquires 75 Percent of the One Congress Project in Boston, MA

Carr Properties is pleased to announce that it has acquired a 75 percent ownership interest in One Congress, the one-million-square-foot trophy office project in downtown Boston, MA located at 1 Congress Street. Carr Properties first invested in the project in a 50-50 joint venture with National Real Estate Advisors, LLC in May 2018 with the Boston-based The HYM Investment Group serving as the local developer for the project.

“We are very pleased to have increased our ownership in One Congress. We continue to believe that One Congress will be an exceptional addition to the fabric of downtown Boston, and we feel very fortunate to be in partnership with such high-quality firms as National Real Estate Advisors and The HYM Investment Group,” said Oliver Carr, Chief Executive Officer of Carr Properties.

“HYM is proud of our partnership with Carr Properties, and we are honored to be their local development team for this project,” said Thomas N. O’Brien, founding partner and managing director of The HYM Investment Group. “When completed, the One Congress office tower will be a transformative landmark on Boston’s skyline and offer a million square feet of office space for Boston companies with unparalleled amenities, views and location.”

One Congress is a 600-foot tall office tower designed by world-renowned architects Pelli Clarke Pelli. The Class-A office building will not only transform the Boston skyline, but will also offer customers world-class amenities including over 30,000 square feet of fitness, wellness, and upscale food and beverage offerings; bike facilities; a one-acre rooftop garden on the eleventh floor; and abundant parking. Amenities also include magnificent panoramic views of the city, the Boston Harbor, the Financial District, and the Charles River.

One Congress is a transit-oriented development featuring an impressive 99-point Walkability Score. It is located three blocks from North Station, with on-site access to the Haymarket MBTA Station, and is close to Logan Airport, I-93, and I-90. Its easy access to transportation, and its prime location close to the Rose Kennedy Greenway and other iconic Boston neighborhoods such as the North End, Beacon Hill, and West End, make it one of the most sought-after places to work in the city.

Construction on the office tower portion of the Bulfinch Crossing project is slated to be completed by the end of 2022. This will be Carr Properties second building in Boston after their recent acquisition of 200 State Street.