Boston, MA - November 24, 2009 — Normandy Real Estate Partners, one of the largest real estate developers, owners and operators in the Boston to Washington, D.C. corridor, today announced that Baystate Financial Services has signed a new lease at the John Hancock Tower. Baystate Financial, one of New England's oldest and largest financial firms, will relocate its corporate headquarters to occupy the entire 28,582 square foot 19th floor of the iconic Boston landmark, with a move-in date expected in early 2010. John Butterworth from CB Richard Ellis represented the tenant; Normandy was represented by Dave Martel, Gil Dailey, and Bill Anderson at Cushman & Wakefield.
“At Baystate Financial, we believe our headquarters reflects who we are – for associates, clients and the community,” said David Porter, CEO of Baystate Financial Services. “The John Hancock Tower fully embodies the success and stability of our organization, operating in the very heart of historic Boston. Along with strong and stable ownership, the John Hancock Tower offered us an unbeatable combination of quality, convenience and value -- our clients and associates deserve nothing less. We’re looking forward to a long and rewarding relationship with our new landlord Normandy. Throughout our dealings, they have delivered on each and every promise, and we could not be happier with the people, the process or the results.”
“We’re proud that Baystate Financial Services has chosen to make the John Hancock Tower its long term home,” said Mark Roopenian, Vice President, Normandy Real Estate Partners. “Attracting a top professional services firm like Baystate Financial reaffirms the enduring power of this beloved Boston landmark, and the entire Normandy organization is committed to providing our valued tenants with the highest quality business environment in the City of Boston.”
Located in the heart of Boston’s Back Bay District, the John Hancock Tower is a 1.7 million square foot, 60 story, Class A trophy office building – and is the tallest building in New England.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a vertically-integrated real estate private equity fund manager headquartered in Morristown, NJ with offices in Boston, New York City, and Washington DC. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.0 billion of equity commitments. Normandy’s existing portfolio includes 14 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments primarily in the Northeast and Mid-Atlantic markets of Boston, Metro New York City, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information visit
www.normandyrealty.com.