REBusinessOnline

Standard Communities Buys 156-Unit Affordable Housing Property Near Boston

WESTWOOD, MASS. — Standard Communities, a division of Los Angeles- and New York-based Standard Cos., has acquired Westwood Glen Commons, a 156-unit affordable housing property for residents age 55 and above that is located on the southern fringe of Boston. The community was built on 13.5 acres in 1972. According to Apartments.com, Westwood Glen Commons offers one- and two-bedroom units and amenities such as grilling stations, a clubhouse and onsite laundry

BioMed Realty Acquires 162,000 SF Office Building, 7.5 Acres in Metro Boston

SOMERVILLE, MASS. — BioMed Realty, a subsidiary of Blackstone that focuses on life sciences real estate, has acquired a 162,000-square-foot office building and a 7.5-acre development tract within the Assembly Row mixed-use destination. The property is located in Somerville on the northern fringe of Boston. The site will be developed in phases and ultimately add 1.3 million square feet of life sciences space to the local supply. A construction timeline was not

Joyal Capital Management Sells 14-Store Dunkin’ Portfolio in Metro Boston

CANTON, MASS. — A subsidiary of Joyal Capital Management (JCM) has sold a portfolio of 14 Dunkin’ stores located throughout the Boston area in a transaction valued at $44 million. The buyer was Northern Management Group, a franchisor of hotel, convenience store and restaurant concepts that operates more than 100 properties in the Northeast. JCM also recently closed on the sale of 61 Dunkin’ stores in Southeast Florida to an undisclosed

Standard Communities Buys 97-Unit Mixed-Income Community in Methuen, Massachusetts

METHUEN, MASS. — Standard Communities, the affordable housing division of Los Angeles- and New York-based Standard Cos., has acquired Mills Falls Apartments, a 97-unit mixed-income community in the northern Massachusetts city of Methuen. The building was originally constructed in 1826 as part of the Methuen Cotton Mills facility and converted to a residential use in 2001. Communal amenities include a lobby, community rooms, a fitness center and laundry rooms, each of which will receive …

Longpoint Realty Acquires 271,592 SF Industrial Property in Peabody, Massachusetts

PEABODY, MASS. —Locally based investment firm Longpoint Realty Partners has acquired a 217,592-square-foot industrial property located at 11 Centennial Drive in Peabody, a northern suburb of Boston. The property is situated within the 300-acre Centennial Park mixed-use campus and was fully leased to drug wholesaler Cardinal Health (NYSE: CAH) at the time of sale. Robert Griffin, Tony Coskren, Ed Jarosz, Matthew Pullen, Rick Schuhwerk, Samantha Hallowell, Lizzie Kusbit and Dominick Romano of …

Cushman & Wakefield Arranges $29.8M Construction Loan for Metro Boston Seniors Housing Project

HANOVER, MASS. — Cushman & Wakefield has arranged a $29.8 million loan for the construction of Benchmark of Hanover, a seniors housing project that will be located approximately 20 miles south of Boston. The borrower is a joint venture between Benchmark Senior Living and Iron Point Partners LLC. The property will feature 97 units of assisted living and memory care. Rick Swartz, Jay Wagner, Sam Dylag, Jack Griffin and Joseph Carbone of Cushman & Wakefield placed the debt through an …

A.W. Perry, Novaya Real Estate Acquire 250,000 SF Industrial Facility in Metro Boston

LYNN, MASS. — A partnership between Boston-based investment firm A.W. Perry and Novaya Real Estate Ventures has acquired a 250,000-square-foot industrial facility located in the northern Boston suburb of Lynn. The sale included an adjacent 10-acre parcel, an assemblage that formerly housed a manufacturing operation for dairy producer Garelick Farms. Now called Lynnway Park, the facility houses 60,000 square feet of cold storage space and can also support light industrial and biomanufacturing …

Trammell Crow Residential to Develop 282-Unit Multifamily Project in Kingston, Massachusetts

KINGSTON, MASS. — Trammell Crow Residential, the multifamily development arm of Crow Holdings, has closed on land and construction financing for the development of Alexan Kingston, a 282-unit multifamily project that will be located about 35 miles south of Boston. The property will offer studio, one-, two- and three-bedroom floor plans ranging in size from 620 to 1,500 square feet. Units will feature stainless steel appliances, granite countertops and individual washers and dryers, while …

CBRE Arranges $154M Sale of Industrial Portfolio in Metro Boston

WILMINGTON, MASS. — CBRE has arranged the $154 million sale of an eight-building, 687,000-square-foot industrial portfolio in Wilmington. The properties were 96 percent leased at the time of sale to 27 tenants including Crate & Barrel, Energy Sciences, 3Step Sports and Altro USA Inc.A joint venture between Boston-based Oliver Street Capital and Bain Capital Real Estate acquired the portfolio, which spans 49 acres.The buildings are located at 21, 42, 65 and 80 Industrial Way; 42 …

Talonvest Arranges $15.6M Acquisition Loan for Metro Boston Self-Storage Facility

NEEDHAM, MASS. — Talonvest Capital, a mortgage banking firm focused on the self-storage sector, has arranged a $15.6 million bridge loan for the acquisition of a 970-unit facility in Needham, a western suburb of Boston. The property was built on 1.9 acres in 2020 and spans 92,500 net rentable square feet. Eric Snyder, Erich Pryor, David DiRienzo, Lauren Maehler and Jim Davies of Talonvest arranged the nonrecourse, floating-rate loan on behalf of the borrower, a joint venture between Westport …

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