In 2006, Broadway Partners bought Hancock Place for $1.3 billion. By 2009, they had defaulted on the loans they used to buy the building, and it was forclosed. On March 30, 2009, Hancock Place was sold at auction for $660 million to a consortium of "Normandy Real Estate Partners" and "Five Mile Capital Partners". In October 2010, Boston Properties bought the John Hancock Tower for $930 million.