Boston investor buys Pearl East Business Park for $190M

A little more than two years after the Pearl East Business Park was scooped up by a Goldman Sachs-affiliated investment group, the 11-building portfolio has again sold, this time to Boston-based investment outfit Beacon Capital Partners.

Beacon Capital Partners, using holding company BCSP Pearl East Property LLC, paid $190 million for the 485,000-square-foot campus previously owned by Western Office Portfolio Property Owner LLC, an entity led by Broad Street Principal Investments LLC.

That’s a $40 million return on Broad Street’s 2019 investment.

The owner before Broad Street, Unico Investment Group LLC, also maintained a stake in the portfolio.

Unico bought Pearl East for $85 million in January 2015 from W.W. Reynolds Cos. — part of a larger deal in which Unico bought up 1.5-million square feet of W.W. Reynolds’ office space in Boulder and Fort Collins.

Similarly, Broad Street Principal Investments took over the office park as part of a…

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