REBusinessOnline

Tuscan Brands Breaks Ground on 2.8 MSF Tuscan Village Mixed-Use Development in Salem, New Hampshire

SALEM, N.H. — Tuscan Brands has broken ground on construction of Tuscan Village, a 2.8 million-square-foot mixed-use project in Salem, located approximately 30 miles north of Boston. Tuscan Village will comprise 1 million square feet of office space, 800,000 square feet of retail space, 900 residential units for rent and for sale, two hotels, an entertainment district and a medical services facility. Outdoor apparel and equipment retailer L.L. Bean signed a 15,000-square-foot retail lease for …

Farley White to Develop 72,000 SF Office Building in Newington, New Hampshire

NEWINGTON, N.H. — Farley White has begun development of 90 Arboretum Drive, a 72,000-square-foot speculative office building in Newington, located approximately 40 miles east of Concord. Farley White will develop the building adjacent to its 100 Arboretum Drive property, a 130,000-square-foot office building anchored by Long Term Care Partners. John Broderick and Stephen Horan of Colliers International secured a $29 million loan from Berkshire Bank to finance the property, which is slated for …

Brady Sullivan Redeveloping 112,000 SF Mixed-Use Project in Keene, New Hampshire

KEENE, N.H. — Brady Sullivan Properties is redeveloping the Colony Mill Marketplace, an existing 112,000-square-foot mixed-use project in Keene, located about 50 miles southwest of Concord. Construction of 89 apartments is slated for completion by the end of fall 2019, and the property already encompasses Elm City Brewing Co., Keene Casino and NBT Bank. The mill was originally built in the mid-1700s and was traded and redeveloped numerous times before it reopened as Colony Mill Marketplace in …

Novaya Acquires 700,000 SF Industrial Portfolio in Massachusetts, New Hampshire

MASS. and N.H. — Novaya Real Estate Ventures has acquired a nine-property industrial portfolio totaling 700,000 square feet, in Billerica and Wilmington, Massachusetts, as well as Londonderry, New Hampshire. The properties feature 18- to 20-foot clear heights and can accommodate warehouse, manufacturing and research uses. Torin Taylor, Matt Adams, Rory Walsh, Rich Ruggiero and Ross Gaudet of Newmark Knight Frank represented Novaya in the transaction. Wakefield Investments was the

KeyBank Provides $50M Construction Loan for Multifamily Property in Salem, New Hampshire

SALEM, N.H. — KeyBank Real Estate Capital has provided $50 million in permanent Freddie Mac financing for a 256-unit mid-rise apartment complex in Salem, New Hampshire. The property, Tuscan Village North, was originally financed using a $38 million construction loan, and is projected to reach stabilized occupancy by October 2019. The loan is structured with an 11-year term, and subsequent to a 6-year interest only period. It amortizes on a 30-year schedule. Dirk Falardeau of KeyBank’s …

JLL Negotiates Sale of 148,102 SF Shopping Center in Milford, New Hampshire

MILFORD, N.H. — JLL has negotiated the sale of Lordens Plaza, a 148,102-square-foot shopping center in Milford, a small town near Nashua just inside New Hampshire’s southern border. Shaw’s Supermarket anchors the property, which is located at the intersection of State Routes 101 and 101A. Other tenants include Rite Aid and Fresenius Medical Care. Nat Heald and Chris Angelone led the JLL team on behalf of the seller, LNR. Seattle-based Bridge33 Capital was the

CBRE Negotiates $67M Sale of Apartment Community in Manchester, New Hampshire

MANCHESTER, N.H. — CBRE has negotiated the $67 million sale of Waterford Place, a 384-unit multifamily community in Manchester. Built in phases between 2004 and 2005, the property is situated on nearly 67 acres just off I-93 and I-293. Floor plans consist of one- and two-bedroom units averaging 998 square feet. Amenities include an indoor pool, fitness center, theater room, tennis court, resident clubhouse, walking trails and outdoor grilling stations. Simon Butler and Biria St. John of CBRE …

WinnCompanies Completes $18.7M Multifamily Rehabilitation Project in Lynn, Massachusetts

LYNN, MASS. — Multifamily development and management firm WinnCompanies has completed the $18.7 million rehabilitation of Cobbet Hill, an affordable housing community located in the northern Boston suburb of Lynn. The 18-month project upgraded the interior features of 117 units, created new common areas and amenity spaces and modernized the property’s security and utility systems. The building was originally constructed in the 1930s as a public school and converted to a residential use in …

PGIM Provides $164M Loan for Refinancing of New England Multifamily Portfolio

BOSTON — PGIM Real Estate Finance has provided a $164 million loan for the refinancing of a portfolio of 14 multifamily properties located throughout metro Boston and the nearby suburbs of New Hampshire. Eleven of the properties are located in the Middlesex, Essex and Worcester counties of Massachusetts, and the others are located in Keene, New Hampshire. The portfolio totals 1,620 units. The borrower was Princeton Properties, an investment firm that has owned all 14 properties for more than …

HFF Provides Financing for 565-Unit Seniors Housing Portfolio in New England

MAINE, MASSACHUSETTS and NEW HAMPSHIRE — HFF has provided an undisclosed amount of financing for a portfolio of eight seniors housing properties totaling 565 units in New England. Northbridge Strategic Senior Housing Fund II was the borrower. Freddie Mac provided the capital, and HFF will service the loans. The intended use of the proceeds was not disclosed. The properties in the portfolio are Avita of Brunswick in Brunswick, Maine; Avita of Stroudwater in Westbrook, Maine; Avita of Wells in …

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