New Boston Fund acquires Miami’s Waterford Centre

The New Boston Fund has purchased Miami’s Waterford Centre, the Boston-based company announced today. The 91,000-square-foot property is located at 6205 Blue Lagoon Drive in the Blue Lagoon Business Park near Miami International Airport. The company plans to invest “significantly” into the property, which is its second high-profile acquisition in the area in the last two years. In 2010, New Boston acquired the 282,000-square-foot One Park Square in Doral. “Waterford Centre is a great addition to our investment portfolio in Miami,” said Pryse Elam, Southeast regional director at New Boston Fund. Lincoln Property Company will continue to provide property management services at the building, while Blanca Commercial Real Estate has been tapped to lease and market the property. Terms of the purchase were not disclosed. — Alexander Britell