Oxford acquires premier office asset, One Marina Park Drive, in Boston’s Seaport District for $435 million

BOSTON

Oxford Properties Group (“Oxford”), a leading global real estate investor, developer and manager, today announced that it has acquired One Marina Park Drive, an 18-story, ~500,000 sq. ft. Class A office tower located in Boston’s vibrant Seaport District from Clarion Partners for US$435 million.

While a long-term owner of high-quality office assets, Oxford spent the past decade diversifying its holdings across major asset classes and recycled approximately US$14 billion out of the office sector globally during the low-rate environment from 2018-2022. That approach has enabled the firm to rotate capital back into office as market conditions create compelling investment opportunities.

The transaction represents Oxford's first acquisition of a core office asset in the US in nearly a decade and builds on the firm's recent office investment activity, having deployed approximately US$2 billion into the sector globally since the start of 2025.

Located within the Fan Pier waterfront mixed-use development with robust amenities and permanent green space, the LEED Gold-certified tower is 99% leased to a diverse roster of venture capital, legal, and financial services firms, and establishes Oxford's presence in the Seaport, a key office submarket that continues to see strong demand for high-quality space. The acquisition will bring its Class A office footprint in Boston, which also includes landmark properties in the Back Bay and Downtown, to over 3.2 million sq. ft. across all three submarkets.

“We continue to see compelling opportunities to invest in premier office assets in gateway cities that are well-located, well-amenitized, and positioned to benefit from the increasing focus on quality,” said Ankit Bhatt, Head of US Investments at Oxford Properties. “One Marina Park Drive exemplifies that opportunity. It combines a premier waterfront location, a diverse occupier ecosystem, and exceptional connectivity within one of Boston’s most desirable office districts. From a return perspective, its strong income profile and high-quality tenancy provide a solid foundation for long-term performance and support the attractive risk-adjusted returns we continually seek on behalf of our stakeholders.”

Boston's Class A office market continues to demonstrate positive momentum, with the Seaport District maintaining one of the lowest vacancy rates among the city's office submarkets, reflecting continued occupier preference for high-quality office space.

At One Marina Park Drive, Oxford has an opportunity to leverage its local, on-the-ground leasing, operational, and asset management expertise in Boston to further enhance the customer experience and create value over time.

“Boston is a market we know exceptionally well from our position as one of the city's largest office landlords,” added Brian Barriero, SVP, US Operations and Leasing at Oxford Properties. “This transaction demonstrates the unique strength of Oxford's vertically integrated platform. Our collaborative approach enables us to continually identify early market trends and leverage our operational and leasing expertise to improve the quality of the customer experience, deepen relationships with occupiers, and maximize the value of the asset over time.”

This investment continues Oxford’s recent momentum in Boston, having leased more than 1 million sq. ft. of office and life science space in 2025 to companies including Klaviyo, Datadog, Wayfair, DraftKings, and Eli Lilly.