Burlington Woods - I & III - The Davis Companies

Burlington Woods – I & III

1 and 3 Burlington Woods Drive Burlington, MA 01803

Thesis

In June 2010, The Davis Companies acquired two office buildings, totaling 267,000 SF, at a foreclosure auction for approximately 51% of the prior owner’s basis and 45% of replacement cost. The acquisition at auction greatly reduced the pool of potential buyers.

Execution

Approximately 64% occupied at acquisition, the properties benefited from an ideal location in Burlington, one of the premier Boston suburban office submarkets, located north of the city, near the intersection of Route 95/128 and Route 93 and within close proximity to a Marriott Hotel, The Burlington Mall, and Wayside Commons, a dynamic new lifestyle-oriented retail center. Neighboring offices were institutionally owned and the market has traditionally seen strong demand from technology and medical tenants.

Asset Class

Office

Fund

Fund I

Year Sold

2012

Location

Burlington, MA