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September 25, 2019  

Insurer Nabs Office Stake in Boston

Northwestern Mutual has agreed to buy an unspecified majority interest in a Boston office building from Rockpoint Group in a deal that values the property at $198 million.The investment in the 273,000-square-foot building, at 99 Summer Street, will generate an initial annual yield in the vicinity of 4.25% for Northwestern at the $725/sf valuation. While the insurer has previously invested in Boston-area apartment properties, this is its first...

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