REBusinessOnline

TravelCenters of America Agrees to Purchase 20 Assets from Hospitality Properties for $308.2M

NEWTON, MASS. AND WESTLAKE, OHIO — TravelCenters of America LLC (NASDAQ: TA) has agreed to purchase 20 truck stop locations from its primary landlord, Hospitality Properties Trust (NASDAQ: HPT), for $308.2 million. The 20 properties span 15 states. HPT will continue to own 179 properties that TA leases. The leases have been amended by both companies, which puts the 179 properties under five leases. The leases have all been extended by three years. Westlake-based TA expects to purchase …

Colliers Secures $115M Bridge Loan for Former NECCO Candy Manufacturing Facility Near Boston

REVERE, MASS. — Colliers International has arranged a $115 million bridge loan for a former NECCO candy manufacturing facility in Revere. The loan replaces the acquisition financing also arranged by Colliers. Located at 135 American Legion Highway, the 49-acre property includes a single-story, high-bay warehouse and a two-story manufacturing and distribution space. Adam Coppola, Thomas Welch, John Poole and Tonia Jenkins secured the financing on behalf of the borrower, Atlantic Management and …

Nataxis Provides $230M Refinancing for Mixed-Use Building in Boston

BOSTON — Nataxis has provided a $230.7 million loan to refinance Congress Square, a 16-story, 369,617-square-foot mixed-use building in Boston’s financial district. Located at 40 Water St., the property was recently renovated with the addition of seven glass and steel office floors above the fully renovated office and retail space. Nataxis provided the floating-rate financing to borrower Related Fund Management. Terms of the financing were not

JOSS Realty Acquires 139,356 SF Office Property Near Boston

READING, MASS. — JOSS Realty has acquired a 139,356-square-foot office building in Reading. The sales price was not disclosed. Located at 55 Walkers Brook Drive, the fully leased property is less than a mile from the MBTA commuter rail in downtown Reading. Reading is approximately 14 miles north of downtown Boston. Cushman & Wakefield’s Boston Capital Markets team represented JOSS in the transaction. The seller was Rubenstein Partners LP and Nordblom

Colliers Negotiates $15.2M Sale of Apartment Community in Massachusetts

BRAINTREE, MASS. — Colliers International has negotiated the $15.2 million sale of Windjammer Cover Apartments, a 72-unit, waterfront apartment community in Braintree. Located at 79 Shaw St., the property features a mix of studio, one- and two-bedroom units. Bruce Lusa, Jonathan Bryant, John Flaherty and Maggie Collins of Colliers represented the sellers, WJ Partners LLC and Oak Sapling Partners LLC, in the transaction. The buyer was True North Capital Partners

MassHousing Provides $2.1M Construction Loan for Workforce Housing Community in Boston

BOSTON — MassHousing has provided $2.1 million in affordable housing financing from the agency’s Workforce Housing Initiative to support the development of 233 Hancock, a five-story, 36-unit workforce housing community being developed by Arx Urban in Dorchester. The financing will help transform two former automobile repair shops into 36 units of new mixed-income homes, including 21 units of workforce housing. Of the 36 new apartments, 10 will be affordable for working households earning up …

Cornerstone Realty Capital Arranges $5.8M Acquisition Loan for Apartment Building in Massachusetts

WHITMAN, MASS. — Cornerstone Realty Capital has arranged $5.8 million in acquisition financing for a three-story, 45-unit apartment building in Whitman. The property features a unit mix of 15 one-bedroom and 30 two-bedroom units. All units include stainless steel appliances, granite countertops, in-unit laundry and hardwood floors. Patrick Brady of Cornerstone secured financing for the borrower, a private family office, in the transaction. The lender was a local bank. Whitman is located …

Marcus & Millichap Orchestrates Sale of Nine-Unit Apartment Building in Worcester, Massachusetts

WORCESTER, MASS. — Marcus & Millichap has arranged the sale of a nine-unit apartment building in Worcester. The property sold for $710,000. Located at 148-152 Millbury St., the three-story property was built in 1920. Matthew Pierce of Marcus & Millichap’s Boston office represented the seller, a private investor, in the transaction. The buyer was also a private investor. The 11,505-square-foot building also includes ground-floor retail that is currently occupied by Three G's …

Cherrytree Group Arranges Bridge Loan for Preservation of Historic Hotel in Massachusetts

LOWELL, MASS. — Cherrytree Group has arranged an $825,000 bridge loan for the preservation of the Lowell Legacy Hotel, a registered historic landmark in Lowell. The five-story building, built between 1896 and 1905, was recently declared eligible to receive Federal tax credits for historic preservation. Warren Kirshenbaum of Cherrytree arranged the pre-development funding on behalf of the borrower, Madison Security Group. Hampton Financial Partners provided the loan, which will serve as a …

Linear Retail Properties Acquires Retail Property in Boston for $5M

BOSTON — Linear Retail Properties has acquired a three-story, 8,131 square foot retail building in the Downtown Crossing neighborhood of Boston. The sales price was $5 million. Located at 19-21 School St., the entire building is currently vacant. Linear plans to lease up the property with a full-building retail tenant or restaurant operator. Mike Edward, Jake Golden and Jon Gifford of Perry Brokerage Associates represented the seller, Envision Bank, in the

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