Hines, Boston Properties Seal $192M Land Deal For Transbay

Law360, New York (March 26, 2013, 7:36 PM EDT) -- Hines Interests LP and Boston Properties Inc. on Tuesday closed on a $192 million land deal with a San Francisco agency that clears the last major hurdle for the companies to break ground on the venture's 60-story, office-and-retail centerpiece to a multi-billion dollar development.

The deal for the 50,000-square-foot parcel, which was sold by the Transbay Joint Powers Authority, valued the land in the South of Market neighborhood at nearly $4,000 per square foot, according to Hines and Boston Properties. It paves the way for the...
To view the full article, register now.