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Boston Herald

Hub real estate fund targets Newbury St.

April 23, 2013

A Boston company has kicked off the start of a new $200 million real estate investment fund with the $10 million purchase of a Newbury Street building.

UrbanMeritage bought the four-story, 8,500-square-foot building at 79 Newbury St. with new capital partners Novaya Real Estate Ventures of Boston and L&B Realty Advisors of Dallas.

The real estate investment firm is focusing its third fund primarily on Newbury Street after selling a portfolio of 28 Newbury Street-area properties for $226.5 million in 2011.

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