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Blackstone's real estate arm acquires Boston office for $156M

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Blackstone's real estate arm acquires Boston office for $156M

The Blackstone Group Inc.'s real estate unit paid about $155.7 million for a Boston office property, more than double the price that seller Invesco Real Estate Ltd. paid for it in 2012, the Boston Business Journal reported, citing a Suffolk Country deed.

The 179 Lincoln St. office is a low-rise building spanning 221,474 square feet. The property is 88% leased with tenants including Smartsheet Inc., OUTFRONT Media Inc., XPO Logistics Inc., Mad*Pow and PowerAdvocate, according to the publication.

Blackstone's EQ Office unit will manage the property.