Carr Properties expands reach to Boston, buys into planned 43-story tower

D.C.-based Carr Properties is expanding its reach beyond Greater Washington, perhaps for the first time.

Carr, which recently completed Fannie Mae’s new headquarters in downtown Washington, has partnered with D.C.-based National Real Estate Advisors LLC to acquire One Congress, a planned 1 million-square-foot, 43-story office tower in Boston.

Boston-based HYM Investment Group will develop One Congress, while the joint venture of Carr and National Real Estate will own it. Construction is expected to start next summer.

“We are excited and honored to be able to join with National and HYM in this signature office development for the city of Boston,” Oliver Carr III said in a statement. “One Congress is a transformational development that will offer a best-in-class environment combining tremendous quality workspace and in-building amenities.”

Carr currently owns a portfolio of 17 office properties and five major development sites — all but one of which, One Congress, are located…

Read the full story from the Washington Business Journal.