Weekend Interview: Synergy's David Greaney On Why He Keeps Buying Downtown Office Buildings This series goes deep with some of the most compelling figures in commercial real estate: the deal-makers, the game-changers, the city-shapers and the larger-than-life personalities who keep CRE interesting. When David Greaney came to the U.S. in 1995 from Ireland, he was only supposed to stay for a year while he worked for Harvard Management Co. Twenty-nine years later, he is one of the largest commercial property owners in Boston. Over the last year, Greaney has thrust himself into the spotlight as one of the most active investors in office properties as nearly everyone else is running away from the sector. His firm, Synergy, in March paid $78M to acquire a 21-story downtown Boston office tower, the largest property to sell in the city since 2019. The deal came after Synergy bought two other downtown Boston office properties in March and September, as well as an apartment building with retail in January. The three office properties sold at substantial discounts to their prior sale prices. Greaney told Bisnow in an interview this month that he plans to keep those buildings offices, rather than pursuing conversions to residential or other uses, because he believes in the city's office market and expects a recovery. 
"If you're going to be buying these assets, you've really got to have conviction about the asset class, the market, and you've got to have conviction that you're buying at the right price," Greaney said.He appears to be one of the only investors with such conviction. Those four deals represent the… Read the full story here. | 
