Related Beal, a fully integrated real estate firm focused on development and investment opportunities in Boston and its surrounding areas, announced today that Related Fund Management has acquired the John Jeffries House from Massachusetts Eye and Ear. The John Jeffries House, a 46-room hotel, is located at 170 Charles Street at the base of Beacon Hill, walking distance from the main campuses of Mass. Eye and Ear and Massachusetts General Hospital, the Charles River Esplanade, Boston Common, Boston Garden, and the Financial District. This acquisition follows Related Fund Management’s purchase of the neighboring Charles Street Garage located at 144 Charles Street. The John Jeffries House will continue to be operated as a hotel.
“Our team is proud to have acquired the John Jeffries House and the Charles Street Garage in Beacon Hill, one of Boston’s most striking neighborhoods which embodies the key characteristics that make Boston so special – history, charm and community,” said Stephen Faber, an executive vice president at Related Beal. “We continue to operate the garage and are currently evaluating future possibilities for this site to best realize its potential in the neighborhood. Beacon Hill’s character attracted us to this ideal location and we are committed to preserving its charm and engaging the community in that process.”
“It has been an honor to serve the Beacon Hill Community as owners of these properties,” said John Fernandez, President & CEO of Mass. Eye and Ear. “Our hospital will remain a good neighbor, now with a sole focus on our core mission which is: finding cures, caring for patients and training medical leaders.”
The John Jeffries House borders Charles Circle and Storrow Drive, and provides immediate access to the MBTA Red Line Charles/MGH stop. It is also walking distance from TD Garden and North Station, with access to green and orange MBTA subway lines, Amtrak service, and bus routes. Related Beal is a seasoned developer committed to the Boston community. Recently, the company enhanced Boston’s urban fabric re-imagining Lovejoy Wharf, turning the former Hoffman Building at 160 North Washington Street into a new home for Converse’s headquarters alongside 131 Beverly, a 260,000 square foot luxury residential building with ground floor retail that is currently under construction. This project also completed the Harbor Walk which now links to Paul Revere Park to the north and the Rose Fitzgerald Kennedy Greenway to the south, completing a string of open spaces stretching from Charlestown to Chinatown.
About Related Beal Related Beal is a fully integrated real estate firm focused on development and investment opportunities in Boston and the surrounding region. Related Beal leverages a national real estate platform with expertise across all assets classes and storied local experience in life sciences, commercial and residential development, property management and investment. Related Beal has developed, and is undertaking the development, of some of the most recognized buildings in the area including The Clarendon and One Back Bay, Congress Square and the Quinzani Bakery site in the South End. Related Beal also recently commenced construction of Parcel 1B in the Bulfinch Triangle. Slated for completion in 2018, Parcel 1B will be home to a mixed-use development that includes a 239-unit, 100 percent affordable and workforce residential building in downtown Boston. For more information on Related Beal, please visit www.relatedbeal.com.
About Related Companies Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai and boasts a team of approximately 3,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $20 billion, is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related Fund Management, a subsidiary of Related also manages approximately $3 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. For more information on Related Companies please visit www.related.com.