REBusinessOnline

Massachusetts

Tryko Partners Acquires Spaulding Nursing and Therapy Center in Boston

BOSTON — Tryko Partners has acquired the Spaulding Nursing and Therapy Center in Boston. Under the guidance of Marquis Health Services, Tryko’s healthcare affiliate, a $4 million renovation program will launch immediately. Tryko purchased the 100-bed skilled nursing facility from Spaulding Rehabilitation Network. Spaulding will continue to manage the property through late 2017, at which time operation will transition to Marquis Health Services. Located at 70 Fulton Street, Spaulding Nursing..

March 23, 2017

Homewood Suites by Hilton Opens in Metro Boston

CHELSEA, MASS. — Homewood Suites by Hilton Boston Logan Airport Chelsea is now open at 145 Beech St. in Chelsea. XSS Hotels owns the 152-suite property, and Colwen Hotels is the manager. Homewood Suites by Hilton Boston Logan Airport Chelsea offers studio and one-bedroom suites with kitchens and separate living and sleeping areas. Amenities include complimentary breakfast, an evening social Monday through Thursday, Wi-Fi, an indoor heated pool and fitness center. The property offers 2,200..

March 20, 2017

Fantini & Gorga Secures $13M Financing for Buildings in Downtown Boston

BOSTON — Boston-based Fantini & Gorga has arranged $13 million to refinance three properties — located at 20 Winthrop Square, 85 Franklin St. and 77 Franklin St. — in Boston’s financial district. Wayne Clough and Despina Hixon of Fantini & Gorga arranged financing with one of the firm’s correspondent insurance companies. The three buildings are conjoined and collectively include 98,350 square feet of office and retail space. A.W. Perry has owned and managed the properties for..

March 20, 2017

Eastern Consolidated Arranges $26.4M Loan for Multifamily Property in Brooklyn

NEW YORK CITY — Eastern Consolidated has arranged a $26.4 million bridge loan from G4 Capital that will fund the recapitalization of a ground lease at 285 Schermerhorn St. in Brooklyn. Jonathan Aghravi and Charles Han of Eastern Consolidated represented the borrower, 285 Schermerhorn LLC, which plans to redevelop the site from its current seven-story structure to a 116,433-square-foot, 14-story residential building with 132 condominiums and 3,400 square feet of ground-floor retail space...

March 20, 2017

Stubblebine/CORFAC, Atlantic Commercial Arrange $3.6M Sale Office/Warehouse in Massachusetts

NORTH ATTLEBORO, MASS. — Stubblebine Co./CORFAC International and Atlantic Commercial Real Estate LLC have arranged the sale of 20 Alice Agnew Dr. in North Attleboro for $3.6M. HTI Medical purchased the property, a 44,450-square-foot office/warehouse building. David Stubblebine, James Stubblebine and Rob Stave of Stubblebine Co., represented the seller, Mercury Trading International, and Mark Kearins of Atlantic Commercial Real Estate LLC represented the buyer. 20 Alice Agnew Drive is the..

March 17, 2017

Skanska USA Tops Out 121 Seaport Office Tower in Boston

BOSTON — Skanska USA has topped out 121 Seaport, a 17-story, 400,000-square-foot office building under construction in Boston. The construction milestone marks the completion of the building’s steel frame. Designed by CBT Architects, 121 Seaport is scheduled for completion in the first quarter of 2018. The property is located in Boston’s Seaport district across from District Hall and Seaport Square Green. Its three-story lobby will face Boston Harbor and open onto Harbor Way, a..

March 15, 2017

Kelleher & Sadowsky Brokers $5.5M Sale of Retail Property in Worcester, Mass.

WORCESTER, MASS. — David Cohen and Jim Cozza and Kelleher & Sadowsky Associates have brokered the $5.5 million sale of 225 Shrewsbury St. in Worcester. The 33,000-square-foot retail space is located on 2.4 acres. The property currently includes four current tenants and will be expanded this year.

March 15, 2017

Citizens Commercial Banking Provides $70M Construction Loan for Marriott Moxy Hotel in Boston

BOSTON — Citizens Commercial Banking has provided a $70 million loan to TS Lodging LLC / Norwich Partners to partially finance the construction of a 340-room Marriott Moxy Hotel on the corner of Stuart and Tremont streets in downtown Boston. Citizens is the lead debt arranger of the four-bank group. Construction has begun on the property, which is slated for delivery in the fourth quarter of 2018. Norwich Partners has developed more than two dozen chain-affiliated hotels across New England..

March 13, 2017

Chevron Partners to Redevelop Boston Property into Multifamily Residence

BOSTON — Chevron Partners, a privately-held real estate firm, has acquired 260-262 Commonwealth Ave. in Boston from Commonwealth Realty Trust for $14 million. The 1880-built brownstone will be redeveloped into five apartments, which will be known as Maison Commonwealth. The property, currently a dorm for Bay State College students, includes on-site parking for each residence and is a joint venture between developers Fulton and Marcel Safar. Chevron Partners’ first residential property,..

March 13, 2017

Cottonwood Management Opens Boston Office, Commences Pre-Construction on Mixed-Use Development

BOSTON — Cottonwood Management Group is opening a new Boston regional office at 101 Seaport Blvd. in the city’s Seaport district. The California-based asset management and development company has also commenced pre-construction on its Seaport Square Parcel M1M2 development, which is located next door. The M1M2 project consists of 1 million square feet of mixed-use development over 3.5 acres in Seaport Square. The residential component includes 730-plus units in two condominium towers and..

March 9, 2017