MIDDLEBOROUGH, MASS. — Premier Fence, a provider of fencing and outdoor home goods, has acquired a 25.8-acre industrial facility in Middleborough, located south of Boston. The property at 370 Wareham St. features four approximately 20,000-square-foot buildings. Two buildings will house uses such as manufacturing, warehousing of raw materials, storage of finished goods and office, showroom and employee training space. Premier Fence will market the other two buildings for lease. The company expects to open its new facility this spring. MassDevelopment provided $11.7 million in bond financing, some of which is tax-exempt, for the purchase and build-out of the facility. Cambridge Savings Bank purchased the bond.
BEDFORD, MASS. — Locally based investment firm Cummings Properties has purchased a 330,000-square-foot vacant office and life sciences facility in Bedford, located northwest of Boston. Developed in 2001 and known as Bedford Woods, the two-building facility sits on a 56-acre site at 174-176 Middlesex Turnpike; 35 of those acres remain undeveloped. Cummings acquired the property, which last sold for more than $93 million in 2012 to Texas-based Orion REIT LP, via auction.
HOLYOKE, MASS. — WinnCos. has completed a $55.3 million seniors housing redevelopment in the western Massachusetts city of Holyoke. Residences at Appleton is an adaptive reuse of a former alpaca mill complex that has been vacant since the 1970s into an affordable housing complex for residents age 55 and older. Of the property’s 88 units, 12 are reserved for seniors earning 30 percent or less of the area median income (AMI); 63 are earmarked for renters earning 60 percent of AMI; and 13 are set aside for those earning 80 percent or less of AMI. The unit mix comprises four studios, 75 one-bedroom residences and nine two-bedroom units. Amenities include a fitness center, resident lounge and an outdoor recreation area. Keith Construction served as the general contractor for the project, which was designed by The Architectural Team. VHB provided civil engineering and permitting services. Local nonprofit OneHolyoke provided gap financing for the project, and Bank of America served as the construction lender and the investor in the project’s state and federal low-income housing tax credits. MassHousing also provided tax-exempt bond financing for the development.
BOSTON — Hudson Valley Property Group (HVPG), a New York-based affordable housing owner-operator, has purchased Boston Bay and Hope Bay, two adjacent properties totaling 133 units in the Dorchester area of Boston. The properties comprise 20 buildings that were constructed between 1890 and 1920. HVPG plans to invest about $6.4 million ($48,000 per unit) in renovations to both properties, including upgrades to kitchen and bathroom fixtures and appliances, as well as common area enhancements and upgraded security and lighting features. Capital improvements will ensure long-term affordability of both assets.
BEDFORD, MASS. — Newmark has negotiated a 47,500-square-foot industrial lease in Bedford, located northwest of Boston. The tenant is sustainable energy company Fourth Power, and the space is located within a newly built, 147,000-square-foot advanced manufacturing facility. Torin Taylor, Rich Ruggiero, Matt Adams, Tyler McGrail and Rory Walsh of Newmark represented the landlord, a partnership between Camber Development and Wheelock Street Capital, in the lease negotiations. Rob Glor and Michael Goodwin of Rise73 represented the tenant.
BOSTON — Mill Creek Residential has broken ground on a $145 million multifamily project in the Allston area of Boston. Modera Allston will have 240 units in studio, one-, two- and three-bedroom floor plans. Residences will be furnished with stainless steel appliances, quartz countertops, tile backsplashes and in-home washers and dryers. Amenities will include a rooftop deck, grilling areas, resident clubhouse, a speakeasy-inspired lounge with a sports simulator, coworking spaces, private workstations and offices, landscaped courtyards, pet spa and a fitness studio. CUBE3 is the project architect, and H+O is the structural engineer. The first move-ins are expected to begin in 2028.
CAMBRIDGE, MASS. — Walker & Dunlop has arranged the $53.6 million sale of 929 MASS, a two-building, mixed-use property in Cambridge, located across the Charles River from Boston. The property consists of an 18-story building with 96 apartments, 12,451 square feet of commercial space and 101 parking spaces, along with a contiguous five-story building with 31 residential units. Travis D’Amato, Michael Coyne, Brendan Shields, Kevin Gleason and Maggie McFarland of Walker & Dunlop represented the undisclosed, institutional seller in the transaction. The buyer was John M. Corcoran & Co.
REVERE, MASS. — MassDevelopment has provided $23.5 million in tax-exempt bond financing for a 56-unit affordable housing project in Revere, located just east of Boston. The building at 110 Ocean Ave. will have 32 units for households earning 50 percent or less of the area median income (AMI) and 24 units for households earning 30 percent or less of AMI. In addition to 48 one-, two- and three-bedroom units, the building will also have eight group living units. The borrower is an affiliate of local owner-operator The Neighborhood Developers.Construction is underway and is expected to be complete in fall 2027. TD Bank purchased the bond.
EVERETT, MASS. — South Carolina-based developer Greystar has topped out a 416-unit multifamily project in the eastern Boston suburb of Everett. The project represents the second phase of a larger development at 1690 Revere Beach Parkway, the first phase of which totals 325 units and is known as Jade. Phase II is known as Juniper and will offer amenities such as courtyards, a fitness center and a lounge with a golf simulator. CUBE3 Architects designed both properties, which between them will include 850 parking spaces and 10,500 square feet of retail space. Juniper is expected to be complete before the end of the year. Construction of Juniper began in summer 2024.
CAMBRIDGE, MASS. — JLL has arranged a $23 million loan for the refinancing of a 65-unit apartment building in Cambridge. The seven-story building at 1008 Mass Ave. was completed in 1999 and offers studio, one- and two-bedroom units, as well as ground-floor retail space. Amenities include a fitness center and a sundeck. Anthony Cutone, Madeline Joyce and Michael Schwarze of JLL arranged the loan through Manulife / John Hancock Life Insurance Co. The borrower was not disclosed. Boston Residential Group provided support for the transaction.
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