FEBRUARY 11, 2019

KPMG Renews at ASB’s Two Financial Center in Boston

Boston, MA — ASB Real Estate Investments (ASB) today announced that leading audit, tax and advisory firm KPMG LLP has signed a long-term renewal to maintain its sizable footprint at Two Financial Center, a Class A mid-rise tower in Downtown Boston.

Lincoln Property Company Boston’s (LPC) Jeffrey Moore along with John Miller and Brendan Miller represented ASB in the lease negotiations. Cushman & Wakefield’s Jay Driscoll, Barry Hynes, Mike Joyce and Pat Murphy represented the tenant.

Brodie Ruland, Northeast Region Head and Senior Vice President at ASB, said “We are excited about continuing ASB and LPC’s longstanding relationship with KPMG.  As part of the deal, we are adding a high-end roof top amenity space and renovating the lobby.  Combined with KPMG’s credit, these upgrades will help solidify Two Financial as one of the premier boutique assets in the market.”

“ASB and LPC are pleased to have extended what we view as our partnership with KPMG as anchor tenant at Two Financial Center. Ten years ago, when we began construction and signed the original lease with KPMG, this commitment to a longer term is what we had envisioned and hoped for,” said Jeffrey Moore, Senior Vice President at Lincoln Property Co.

Located at the intersection of Essex and South Streets, Two Financial Center straddles the Leather District and Financial District providing easy access to South Station, the Mass Pike and I-93. The 220,000-square-foot building offers floor-to-ceiling windows and on-site valet parking with an upcoming multi-million-dollar capital improvement plan that includes the addition of a state-of-the-art rooftop deck for tenants and lobby upgrades. The new roof deck will feature outdoor dining areas, casual seating complete with fire pit and trellises, high-end urban landscape design, and provide sweeping views of Downtown Boston, Back Bay and South End. The lobby renovations will introduce soft seating areas and incorporate hospitality-like amenities to engage both tenants and visitors. Ownership hopes to secure a coffee/juice bar with grab-and-go food items and create tenant collaboration spaces.

“At KPMG, innovation and collaboration are critical to sustaining our firm’s growth – both in how we continue to attract and retain our professionals as well as how we serve our clients,” said KPMG’s Boston Office Managing Principal, Darren J. Donovan. “By doubling down on our investment in Boston and enhancing the utility of our workspace, conference facility, and innovation space, we are further extending our ability to provide our current and future clients with the critical thinking, solutions and advanced technology they need to compete and lead in their markets.”

The LPC Downtown Brokerage team continues to market two remaining spaces ranging from 6,000 square feet to 12,000 square feet.

ASB’s ownership investment in Two Financial Center is made on behalf of its Allegiance Real Estate Fund, a core investment vehicle.

About ASB Real Estate Investments
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with $7.9 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing and the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles.

About Lincoln Property Company

The Boston office of Lincoln Property Company, a national commercial real estate company, provides brokerage, property management, appraisal/valuation and development and project management services to a wide range of clients. In Massachusetts alone, Lincoln Property Company manages over 15 million square feet of commercial space and is responsible for leasing millions of square feet of space every year. For more information on Lincoln Property Company’s Boston office, visit: www.LPCBoston.com.

*as of December 31, 2018
The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.

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