DivcoWest Acquires 399 Boylston Street, a 90% Leased Back Bay Office Building Reflecting Long-Term Commitment to Boston

BOSTON--(BUSINESS WIRE)--DivcoWest, a DivCore Capital company, announced today that it has acquired 399 Boylston Street, a premier 245,000-square-foot Class A office building in Boston’s Back Bay. The property, which is more than 90% leased, represents DivcoWest’s continued confidence in Boston’s innovation economy and enduring appeal as one of the nation’s most dynamic urban office markets.

Positioned at the intersection of Boston’s historic and business districts, 399 Boylston Street combines timeless architecture with $35 million in newly completed tenant-focused upgrades, including a full-service fitness center, yoga studio, bike storage, locker rooms, showers, and a salon. The building’s prime location provides immediate access to the MBTA Green Line, with connections to the Red and Orange Lines just two blocks away, offering unparalleled connectivity to talent and amenities across the city.

“We believe Boston continues to be one of the most resilient and desirable office markets in the country,” said Michael Falvey, Senior Director and Head of Boston Acquisitions at DivcoWest. “399 Boylston Street exemplifies the type of high-quality, well-located assets we seek, properties that deliver a best-in-class tenant experience in markets with enduring fundamentals. We see tremendous long-term value in this investment and in the continued vibrancy of the Back Bay and the city of Boston.”

Surrounded by Boston’s cultural landmarks, green space, and luxury retail such as Hermes, Bottega Veneta, Bulgari, and Valentino, 399 Boylston offers sweeping views of the Boston Common, Public Garden, and the Charles River. Tenants benefit from proximity to an array of premium dining, hospitality, and residential options, creating a dynamic environment that aligns with modern workplace expectations.

“The acquisition of 399 Boylston by DivcoWest underscores strong investor conviction in the strength of the Back Bay submarket,” said Edward Maher, Boston Capital Markets Executive Vice Chairman at Newmark, which handled the sale. “This asset’s recent capital improvements and irreplaceable location position it as one of the most attractive office offerings in the city.”

With this acquisition, DivcoWest expands its Boston footprint, reinforcing the firm’s long-term strategy of investing in top-tier assets across innovation-driven markets on the East Coast and beyond.

Newmark represented the seller in the transaction, and JLL will continue to serve as the exclusive leasing agent for the property.

About DivcoWest

Founded in 1993 by Stuart Shiff, DivcoWest, a DivCore Capital Company, is a vertically integrated, real estate investment firm headquartered in San Francisco, with offices in Cambridge, Los Angeles, Menlo Park, Washington DC, Austin, and New York City. Known for long-standing relationships and experience across the risk-spectrum in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach to commercial real estate. DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance health and well-being. Since inception, DivcoWest and its predecessor have acquired approximately 61 million square feet of commercial space - primarily throughout the United States. DivcoWest’s real estate portfolio currently includes existing and development properties in the office, R&D, lab, industrial, retail, and multifamily spaces. www.divcowest.com. Follow @DivcoWest on LinkedIn.

About DivCore

Through its two real estate platforms, DivcoWest, a private equity investment firm headquartered in San Francisco, CA, and LoanCore Capital, a lender and debt investment manager headquartered in Greenwich, CT, DivCore manages approximately $31 billion in total assets on behalf of institutional investors.