Rockpoint Group Buys 100 Summer St. at Foreclosure Auction

The Boston office tower sold for $260 million, marking a 68 percent discount from its 2019 purchase price.

Updated on Oct. 28, 2026 in Commercial

A towering granite and reflective glass office building facade in a dense urban setting, captured from a low angle. — Rockpoint Group acquired Boston's 100 Summer St. office tower for $260 million at a foreclosure auction, a 68 percent decrease since 2019. AI Illustration. Upload story photo >

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Rockpoint Group acquired the 100 Summer St. office tower in Boston for $260 million during a brief foreclosure auction. The transaction follows foreclosure proceedings initiated by Wells Fargo after the building faced financial pressure.

Why it matters

The sale highlights the ongoing decline in value for older office properties, driven by lower occupancy rates and shifting commercial real estate demands. This significant discount underscores the challenges currently facing high-profile office assets in major urban centers.

The 1.1 million-square-foot tower sold for approximately $236 per square foot. Currently, the building maintains a 72 percent occupancy rate, with SimpliSafe occupying 150,000 square feet of the space.

The players

Rockpoint Group

A global real estate investment management firm headquartered in the Back Bay neighborhood of Boston.

Wells Fargo

A major multinational financial services company that initiated the foreclosure proceedings against the property.

SimpliSafe

A home security technology company that maintains a 150,000-square-foot corporate office lease at 100 Summer St.

Marianne Sullivan

The auctioneer who oversaw the foreclosure proceedings and established the $260 million opening bid.

The details

The foreclosure auction took place outside the building and lasted only 40 seconds, with the current owner submitting the sole bid. This sale reflects the broader trend of diminished appeal for older downtown office inventory.

Late 2019: Rockpoint Group originally acquired the 100 Summer St. property for $806 million.
2021: SimpliSafe finalized its 150,000-square-foot lease agreement in the office tower.
Early 2025: This period marked the beginning of high-profile distressed commercial real estate sales.
March 2026: A lender acquired a property block on Dorchester Avenue for $75 million.
October 27, 2026: Rockpoint Group purchased the 100 Summer St. tower at the foreclosure auction.

Culture Shift

The sale at 100 Summer St. follows the trend of distressed sales in Boston, such as the $400 million acquisition of the One Lincoln tower. This transaction illustrates a broader cultural shift in commercial real estate where older, large-scale office towers face significant valuation corrections.

While the sale is a high-level financial transaction, it could lead to changes in property management or building upgrades as the new owner adjusts to lower occupancy levels. Tenants like SimpliSafe may face uncertainty regarding future lease renewals or building-wide amenities.

The takeaway

This transaction demonstrates the steep decline in valuation for aging, partially occupied office assets in competitive markets. Investors and tenants should monitor how new ownership models adjust to these recalibrated property values.