John Hancock Snags Property on Boston Harbor
- Aug 23, 2017
John Hancock Real Estate has acquired HarborView at the Navy Yard, which is on Boston Harbor in the historic Charlestown Navy Yard, for an unspecified price. The deal puts the insurance company’s residential presence in the Boston area up to about 1 million square feet.
The 224-unit, high-rise was built in 2007, and is part of the ongoing redevelopment of the Navy Yard, once one of the oldest shipbuilding yards in the United States. Overlooking downtown Boston, HarborView is also a neighbor of the USS Constitution, the oldest commissioned warship in the US Navy.
The property includes studios and one- and two-bedroom units; there’s also a penthouse duplex. Common amenities include a 10,000-square-foot fitness club, rooftop terrace, underground garage, a stop-and-go dock on the harbor, and ground-floor retail.
“HarborView at the Navy Yard is a solid addition to the John Hancock Real Estate portfolio,” said Kevin Adolphe, president and CEO of John Hancock Real Estate. “We have a long history in Boston.”
Since 2012, the company has grown its Boston area real estate portfolio by nearly 1.5 million square feet through various acquisitions and developments. Besides HarborView, John Hancock made an equity investment in the 295-unit, 17-story residential development at Boston Landing, and acquired 535-545 Boylston street, a 13-story office building in Boston’s Back Bay.