REBusinessOnline

Massachusetts

Groundbreaking Ceremony Planned for GE Innovation Point Office Project in Boston

BOSTON — GE will host a groundbreaking ceremony for its future campus, GE Innovation Point, at 15 Necco St. in Boston on May 8. When complete, the project will be home to 800 GE employees. GE Chairman and CEO Jeff Immelt will be on hand, along with Massachusetts Governor Charlie Baker and Boston Mayor Marty Walsh. Innovation Point will open in two phases in 2018.

April 27, 2017

WinnDevelopment to Build 140-Unit Multifamily Community in Metro Boston

QUINCY, MASS. — WinnDevelopment and nonprofit partner NeighborWorks Southern Mass are moving forward with plans to build a $44 million, 140-unit apartment community in Quincy. Known as The Watson on Howard, the project will be located on 1.7 acres and will feature the largest number of workforce units ever financed under MassHousing’s Workforce Housing Initiative, according to a release from WinnDevelopment. Amenities will include a gym, community room and courtyard.

April 27, 2017

Colliers Negotiates $41M Sale, $26.7M Financing for Office Property in Boston

BOSTON — Colliers International has negotiated the $41 million sale of an office property located at 148 State St. in Boston. Colliers also arranged $26.7 million in acquisition financing for property, which is the corporate headquarters of Public Consulting Group (PCG), a public sector management and technology consulting firm. Colliers marketed the property on behalf of the seller, an entity controlled by principals of PCG, and procured the buyer, a joint venture controlled by Harbor..

April 26, 2017

Colliers International Negotiates $6.4M Sale of Industrial Property in Agawam, Mass.

AGAWAM, MASS. — Colliers International has negotiated the $6.4 million sale of an industrial property in Agawam. MAG Acquisition Corp. has purchased 101 HP Almgren Dr., a 186,000-square-foot property that is 100 percent leased. Nicholas Morizio and Ian Hunt of Colliers’ Hartford, Conn., office represented the buyer in the transaction.

April 25, 2017

Galaxy Development to Develop New Phase of Retail Property in Sutton, Mass.

SUTTON, MASS. — Galaxy Development has purchased five acres for an addition to the Pleasant Valley Crossing Shopping Center in Sutton. The new parcel will accommodate a 5,500-square-foot restaurant and a multi-tenant, 19,000-square-foot retail plaza. MidPoint Engineering will submit plans for permits this spring and the developer expects to start construction in the fall, with store openings planned for summer 2018. Todd Lornell was the broker for the seller, Fuller Hamlets Soccer Club...

April 24, 2017

Natixis Provides $38M Loan for Wellington Parkside Apartments in Everett, Mass.

EVERETT, MASS. — Natixis has provided a $38 million floating-rate loan on Wellington Parkside Apartments for Boston-based Taurus Investment Holdings. Proceeds from the loan will fund the acquisition and lease-up of the 190-unit, Class A multifamily property. Wellington Parkside Apartments is located in Everett, four miles north of the Boston central business district and one mile from the site of the Wynn Boston Harbor Casino. Taurus has retained Boston-based The Dolben Co. to handle leasing..

April 24, 2017

CBRE Arranges $56.3M Loan for Multifamily Portfolio in Massachusetts

BOSTON & LYNN, MASS. — On behalf of Helge Capital, CBRE New England’s multifamily debt and structured finance team has secured a $56.3 million first mortgage loan to finance the recapitalization of a 19-building multifamily portfolio in metro Boston and Lynn, Mass. The assets consist of workforce housing of both market-rate and affordable apartments. CBRE’s John Kelly arranged the financing through a national lender on behalf of Helge Capital, a commercial real estate investment and..

April 17, 2017

KeyBank Secures $38.7M Financing for Multifamily Portfolio in Massachusetts

BOSTON, CAMBRIDGE & BRIGHTON, MASS. — KeyBank Real Estate Capital has secured $38.7 million in Fannie Mae financing for a four-property multifamily portfolio located in Massachusetts. A $20.7 million first mortgage loan was secured by Boylston Apartments, a 129-unit property built in 1927 in Boston; a $10.1 million first mortgage loan was secured by Cambridge Apartments, a 56-unit property built in 1880 in Cambridge; and a $7.9 million first mortgage loan was secured by Commonwealth &..

April 17, 2017

SVN, AIS Development Broker Pair of Office Leases in Hopkinton, Mass.

HOPKINTON, MASS. — SVN | Parsons Commercial Group | Boston, in partnership with AIS Development, has brokered two office leases totaling 70,000 square feet at 35 Parkwood Dr. in Hopkinton. After acquiring the unoccupied 160,000-square-foot research and development property in November 2016, the partnership has begun a renovation and marketing plan. The building, which formerly served as EMC’s headquarters, has been vacant for more than 10 years. Located in the Elmwood Business Park, the..

April 17, 2017

Transwestern Secures Financing for Boston Celtics Practice Facility in Brighton, Mass.

BRIGHTON, MASS. — Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton. According to public records, the loan amount was $76 million. TCG’s Chris Skeffington and Andrew Stone, along with NB Development’s Jim Halliday and Kevin Doyle, arranged the loan with East Boston Savings Bank. Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-square-foot facility..

April 13, 2017