RESERVOIR PLACE

1601 Trapelo Road
Waltham, MA

Client Situation

A multi-generational family business actively engaged in the development and management of commercial properties hired Columbia Group to find a buyer for its iconic 530,000 square foot office building - the largest Class A suburban office building on Massachusetts' technology corridor, Route 128. The property was held in a family trust. The trust's beneficiaries wished to sell their interest, retire from the real estate business, establish a source of investment income, and defer large capital gains taxes.

Action Taken

Within the group of institutional buyers, Columbia Group identified one class - publicly traded REITS - that could satisfy the seller's prerequisites. Columbia Group prepared the analysis and market information, managed the bid process, and identified the finalist.

Outcome

The ownership transferred title of the site to Boston Properties in exchange for UPREIT shares. Each of the beneficiaries was able to achieve his or her individual goals, which ranged from maintaining an income stream to deferring taxes to creating liquidity.