The Boston office of international real estate firm Hines has sold its minority interests in two of its landmark office buildings to its partner, Equity Office Properties, which is owned by the Blackstone Group of New York.
Hines will continue in its role as property manager of Two Twenty Two Berkeley and Five Hundred Boylston. Terms of the sale were not disclosed.
Developed by Hines, designed by architects Philip Johnson and John Burgee, and opened in 1988, Five Hundred Boylston is a 25-story, 710,000-square-foot, mixed-use project with more than 65,000 square feet of retail space, according to Hines.
The property is currently 95 percent leased. Major tenants include MFS Investment Management and Houghton Mifflin Co.
Two Twenty Two Berkeley was developed by Hines, designed by Robert A.M. Stern Architects and completed in 1991. The 22-story, 520,000-square-foot office building has more than 44,000 square feet of retail space. The property is 97 percent leased and is anchored by Houghton Mifflin Co., the company said.
Two Twenty Two Berkeley is connected to Five Hundred Boylston, and the two properties share a 1,000-space parking garage.
The Blackstone Group has other movement occurring elsewhere in its ranks.
Jay O. Light, the Dean of Harvard Business School, has joined The Blackstone Group’s board of directors.
Since joining the HBS faculty in 1970, Light has taught thousands of students in Harvard’s MBA and doctoral programs. As senior associate dean and director of planning and development (1998-2005) at HBS, he led the school’s strategic planning efforts and helped shape new educational and research program initiatives.
Light joins three other independent directors on the board: Richard Jenrette, the Rt. Hon. Brian Mulroney and William Parrett.