(Boston)- Novaya Real Estate Ventures and Cresset Group announced a joint venture purchase of 120 Water Street in the Financial District. The asset was purchased in a 50-50 joint venture and was 100% occupied under long-term leases at the time of closing. “120 Water Street is a classic “jewel box” asset in a great location and will serve as a great long-term investment for Novaya, in addition to serving as our new corporate headquarters,” announced Peter Carbone, CIO of Novaya.
“We are thrilled to have the Novaya guys as partners, neighbors and a strategic capital partner for future endeavors,” stated Edward Nardi of Cresset.
Cresset is comprised of three operating companies, which integrate the key components of real estate investment — development, construction and property management — creating a sustainable competitive advantage for investors and clients.
Novaya provides its clients with an innovative approach to real estate investing by uncovering value through proprietary market relationships, creative structuring, local expertise and superior management.