State Street Financial Center Gets Some Refinancing, Foreign Investors Participate
The skyline-piercing, 36-storey State Street Financial Center, located in Boston’s Financial District, is owned by patriarchs of the Brooklyn-based Kestenbaum family through Fortis Property Group, LLC. Fortis Property Group is based in New York and has amassed a real estate empire through a variety of means. In 2003, State Street Financial Center, originally conceived as One Lincoln Street, was built through a group of players including the Gale Company (family-owned real estate company led by Stan Gale), State Teachers’ Retirement System of Ohio (STRS Ohio) and a Morgan Stanley real estate fund. In February 2004, the building was sold 100% to American Financial Realty Trust.
State Street Bank made the building its headquarters, leasing it through its unit SSB Realty, LLC. Later on, law firm K&L Gates LLP became a key tenant in the building.
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