John Hancock Real Estate has increased its portfolio in Boston with the purchase of the HarborView at the Navy Yard multifamily property in Charlestown.
The iconic Boston-based firm reportedly purchased the 224-unit Class A property for $149.25 million from Prudential Financial. The property, which is adjacent to the famed U.S. Constitution warship in Charlestown Harbor, was constructed in 2007 and developed by Trammel Crow as a condominium development, but is currently a multifamily rental property.
A representative of John Hancock did not confirm the purchase price to Globest.com, which is part of ALM, the parent of ThinkAdvisor.com. A spokesman for Prudential Financial refused comment on the transaction.
JLL reportedly represented the seller Prudential Financial in the transaction. The property, which is managed by Mack-Cali subsidiary Roseland Property Co., also features retail space, including a 10,000-square-foot health club.