REBusinessOnline

Omni Breaks Ground on $550M Boston Seaport Hotel

BOSTON — Omni Hotels & Resorts has broken ground on the $550 million Omni Boston Seaport Hotel, a 21-story, 1,055-room hotel in Boston’s Seaport district. Set to open in late 2020 on a two-acre parcel at the corner of Summer and D streets, the hotel will feature 100,000 square feet of meeting and event space that includes the largest hotel ballroom in the Seaport District. Other amenities will include an urban rooftop pool deck with an event space featuring views of Boston’s …

Vantage Completes Build-Out of 12,800 SF Medical Office Near Boston

ROWLEY, MASS. — Waltham-based general contracting and construction firm Vantage Builders Inc. has completed the build-out of North Shore Physicians Group’s Rowley office. Rowley is approximately 30 miles north of Boston. The 12,800-square-foot office, which is located at 414 Haverhill St., is North Shore Physicians Group’s 22nd location on the North Shore. The office offers primary and specialty care, as well as X-ray, mammography and bone density testing, for patients in Rowley and the …

NKF Capital Markets Coordinates $11.5M Sale of Blue Hills Medical Center in Suburban Boston

BRAINTREE, MASS. — NKF Capital Markets has orchestrated the sale of Blue Hills Medical Center in Braintree for $11.5 million. Braintree is 13 miles south of Boston. Located at 340 Wood Road, the 48,617-square-foot Blue Hills Medical Center is 100 percent leased to 14 tenants. The tenant roster includes Milton Pediatrics, MassGeneral Hospital for Children and South Shore Hospital. NKF represented the seller, Jumbo Capital Management, in the transaction. The buyer was Novaya Real Estate …

Stubblebine/CORFAC Negotiates $6.9M Sale of Industrial Facility Near Worcester

WEST BOYLSTON, MASS. — The Stubblebine Co./CORFAC International has negotiated the $6.9 million sale of 180 Shrewsbury Street, a 149,000-square-foot industrial building in West Boylston, about eight miles north of Worcester. David and James Stubblebine represented both the seller, WRT Management, and the buyer, 180 Shrewsbury Street LLC, in the transaction. The high-bay distribution building is leased on a long-term basis to Bunzl

MassHousing Provides $5.1M in Financing for Redevelopment of Central Building in Worcester

WORCESTER, MASS. — MassHousing has provided $5.1 million in affordable housing financing to support the redevelopment of Worcester’s Central Building. The financing will allow the borrower, Central Building Development Group, to transform a vacant office building into a 55-unit, mixed-income housing community with 14 workforce-housing units. Dellbrook JKS is serving as general contractor on the project with The Architectural Team serving as architect. MassHousing provided a $3.7 million …

Cornerstone Realty Capital Arranges $14.3M Acquisition Loan for Apartment Complex in Amesbury

AMESBURY, MASS. — Cornerstone Realty Capital has arranged $14.3 million in acquisition financing for the Residences at Riverwalk at 1 River Court in Amesbury, 40 miles north of Boston. The borrower was undisclosed. The complex features two buildings that were originally part of a mill built in 1918, but converted into apartments in 2006. Combined there are 87 units averaging around 1,041 square feet each. Amenities include a fitness center, shared library and great room with entertainment …

Nauset Breaks Ground on 93-Unit Apartment Development in Cambridge

CAMBRIDGE, MASS. — Nauset Construction has broken ground on a 93-unit apartment development in the Alewife neighborhood of Cambridge for owner Abodez Acorn New Street LLC. The new complex, known as Park 77, will be constructed at the site of the former window and door manufacturing and warehouse facility known as the J&C Adams Co. at 77 New St. Designed by Piatt Associates, the four-story, 96,000-square-foot building will be comprised of a mix of studio, one-, two- and three-bedroom …

Davis Marcus Partners Developing 220,000 SF Lab and Office Space in Suburban Boston

WALTHAM, MASS. — Davis Marcus Partners, a joint venture between Marcus Partners and The Davis Companies, is developing a new 220,000-square-foot lab and office facility in Waltham for Alkermes, a global biopharmaceutical company. The new building, which is located at 900 Winter St., represents an expansion of Alkermes’ current facility at 852 Winter St. The new facility was designed by Elkus Manfredi Architects and will seek LEED certification. Amenities will include an eatery, coffee bar, …

Amazon to Expand Boston Tech Hub With 430,000 SF at Seaport Project

BOSTON — Amazon has announced plans to expand its Boston Tech Hub with a 430,000-square-foot office lease at WS Development’s Seaport project. Amazon plans to open a new office inside the 7.6 million-square-foot Seaport development in 2021. Boston’s Seaport district has been transformed in recent decades into a technology center. Amazon’s teams based in the Boston metropolitan area primarily focus on Alexa, Amazon Web Services, and Audible. The expansion is expected to create an …

Fantini & Gorga Arranges $1.2M in Acquisition Financing for Multifamily Property in Suburban Boston

MALDEN, MASS. — Fantini & Gorga has arranged $1.2 million in financing for the acquisition of a multifamily property at 21-23 Myrtle St. in Malden, about five miles north of Boston. The property is a 12-unit apartment building made up of one- and two-bedroom units. At the time of sale, the property was fully occupied with under market leases. Derek Coulombe and Jon Garcia of Fantini & Gorga arranged the loan for the undisclosed borrower. The lender was not disclosed. The property is …

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