Canton's 259,000-square-foot office complex at 150 Royall St. just sold at foreclosure auction for $21.35 million — a 63% drop from the $58 million it fetched under its previous owner.

LNR Partners, a Starwood Capital Partners subsidiary that specializes in managing distressed commercial mortgages, took ownership after an online auction in June, buying the building away from Boston-based Jumbo Capital Management. Wells Fargo is also listed among the parties connected to the deal. The property sits near the I-93/I-95 interchange along Royall Street, a corridor that's drawn major corporate tenants over the years, including Reebok, Meditech, Dunkin' Brands and Boston Mutual.

The building is anchored by Computershare, the financial services firm running its U.S. investor services division out of Suite 101. Back in 2019, the building reached full occupancy after landing leases with Computershare, Redfin and Digital Insurance totaling 90,000 square feet — but a recent listing now advertises available space at the address, a shift from that 2019 high point. A lower assessed value following the foreclosure could reduce how much the property contributes to Canton's commercial tax revenue, though no town official has commented publicly on what that might look like yet.

This isn't LNR's first foreclosure play in Greater Boston this year. In March, the firm paid $95 million to take over the 540,000-square-foot Park Square Building in Boston's Back Bay — then listed it for sale within two months, marketing it for mixed-use redevelopment. Whether LNR takes a similar path with 150 Royall St., or instead works to fill it with new tenants, isn't clear yet.

Residents with questions about the property's tax assessment can contact the Canton Board of Assessors at 801 Washington St.