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Massachusetts

Singing-Bridge-Residences-Chicopee-Massachusetts
DevelopmentLoansMassachusettsMultifamilyNortheast

MassHousing Provides $37.3M in Financing for Affordable Housing Project in Chicopee, Massachusetts

by Taylor Williams

CHICOPEE, MASS. — MassHousing has provided $37.3 million in financing for Singing Bridge Residences, a 105-unit affordable housing project in Chicopee, located near the Massachusetts-New York border. The borrower, a joint venture between Sydney Capital Group LLC and Brisa Builders Development, will develop the complex on a four-acre, riverfront site at 400 Main St. that was previously owned by the city. Other portions of the site will be developed separately to feature a sports complex, brewery and an office building. The unit mix will consist of 16 studios, 21 one-bedroom apartments, 57 two-bedroom residences and 11 three-bedroom apartments and will feature a range of income restrictions. Paul A. Castrucci Architects is designing Singing Bridge Residences, and Western Builders is serving as the general contractor. Completion is slated for summer 2027.

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Baldwinville-School-Apartments-Templeton-Massachusetts
Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

MPZ Development, Capstone to Undertake $36M Multifamily Adaptive Reuse Project in Templeton, Massachusetts

by Taylor Williams

TEMPLETON, MASS. — A partnership between metro Boston-based MPZ Development and Capstone Communities will undertake a $36 million multifamily adaptive reuse project in Templeton, about 65 miles northwest of Boston. Designed by ICON Architecture, the project will convert the historic Baldwinville Elementary School, which was originally built in 1923, into a 54-unit apartment complex that will be known as Baldwinville School Apartments. Residences will come in studio, one-, two- and three-bedroom floor plans, and the majority (49) of the units will be reserved for households earning between 30 and 60 percent of the area median income. Amenities will include a children’s playground, fitness center, electric vehicle charging stations, onsite laundry facilities and a community walking trail and green space. Rockland Trust provided $21.5 million in construction financing for the project. A groundbreaking ceremony will take place in May.

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One-Cabot-Road-Medford-Massachusetts
HealthcareLeasing ActivityMassachusettsNortheastOffice

Cambridge Health Alliance Signs 56,000 SF Healthcare Lease in Medford, Massachusetts

by Taylor Williams

MEDFORD, MASS. — Cambridge Health Alliance has signed a 15-year, 56,000-square-foot healthcare lease in Medford, located north of Boston. The healthcare provider will occupy the second floor of One Cabot Road, a building that can also support office, life sciences and manufacturing uses, beginning in June. Deb Gould, Ali Cavanaugh and Rory Walsh of Newmark represented the landlord, The Davis Cos., in the lease negotiations. Paul Delaney, Adam Subber and Carter Sweabe of Cresa represented Cambridge Health Alliance.

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CivicDevelopmentMassachusettsNortheast

Gilbane Building Co. Begins Construction on Multiple Projects at Salem State University in Massachusetts

by Taylor Williams

SALEM, MASS. — Gilbane Building Co. has begun construction on multiple projects at Salem State University (SSU), located north of Boston, that are part of a “campus unification and modernization” initiative known as SSU Bold. The projects incorporate renovations to the existing Horace Mann building, which has been vacant since 2018, and the expansion of Meier Hall to bring new lab spaces to programs housed in the building. Once completed in fall 2027, the university will relocate its South Campus-housed programs to North Campus, unifying its footprint and allowing the planned sale of South Campus to move forward. The new facilities will house nursing, occupational therapy, biology, chemistry and geological sciences programs, as well as various student hubs and flexible classrooms.

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Leasing ActivityLife SciencesMassachusettsNortheast

CytoTronics Signs 14,000 SF Life Sciences Lease in Boston Seaport District

by Taylor Williams

BOSTON — CytoTronics, a life sciences company specializing in cell biology research, has signed a 14,000-square-foot lease in Boston’s Seaport District. The space is located within GENESIS 12 Farnsworth, a 73,000-square-foot former office building. CBRE represented the landlord, Phase 3 Real Estate Partners, in the lease negotiations. The tenant representative was not disclosed.

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150-Minuteman-Road-Andover-Massachusetts
AcquisitionsMassachusettsNortheastOffice

Newmark Brokers Sale of 112,418 SF Office, Life Sciences Building in Andover, Massachusetts

by Taylor Williams

ANDOVER, MASS. — Newmark has brokered the sale of 150 Minuteman Road, a 112,148-square-foot office and life sciences building in the northern Boston suburb of Andover. The building is one of six within the 1 million-square-foot Minuteman Park campus and was fully leased at the time of sale to global medical technology company Smith + Nephew. Institutional investment firm BentallGreenOak (BGO) sold the building to Optimum Asset Management for an undisclosed price. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal.

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LoansMassachusettsNortheastOfficeRetail

Colliers Arranges $34.3M Loan for Refinancing of Historic Buildings in Boston Seaport District

by Taylor Williams

BOSTON — Colliers has arranged a $34.3 million loan for the refinancing of the Custom House Block and Gardiner Building at Long Wharf, a pair of historic buildings totaling 83,824 square feet in Boston’s Seaport District. The Custom House Block was originally completed in 1848 and totals 74,783 square feet, while the 9,041-square-foot Gardiner Building was originally constructed in 1760 and once functioned as John Hancock’s counting house. Today, both buildings house office and retail uses and were 94 percent occupied at the time of the loan closing. Patrick Boyle and Kevin Phelan of Colliers arranged the fixed-rate loan through Grant Street Funding on behalf of the owner, Capital Street Properties, which completed the adaptive reuse of the buildings in 2021.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

TCB Breaks Ground on 43-Unit Affordable Housing Project in Truro, Massachusetts

by Taylor Williams

TRURO, MASS. — The Community Builders (TCB) has broken ground on Cloverleaf, a 43-unit affordable housing project in Truro, located on Cape Cod. The majority (39) of residences will be restricted to households earning between 30 and 100 percent of the area median income, and the other four will be rented at market rates. Units will come in one-, two- and three-bedroom formats and will be spread across 10 buildings. TCB is developing Cloverleaf in partnership with Community Housing Resource Inc. and the Town of Truro.

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404-Wyman-St.-Waltham
DevelopmentLife SciencesMassachusettsNortheastOffice

Hobbs Brook Underway on Renovation of 384,841 SF Office, Life Sciences Facility in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — Locally based owner-operator Hobbs Brook Real Estate is underway on the renovation of a 384,841-square-foot office and life sciences facility located at 404 Wyman St. in the western Boston suburb of Waltham. The building is part of an 11-building campus that is home to tenants such as Dassault Systems, FM Global, Commonwealth Financial Network and ZoomInfo. Renovations will include the addition of a new fitness center, a remodeling of lobby and upgrading of the conference center and café. In addition, Hobbs Brook will develop expansive outdoor spaces with seating areas, fire pits and new landscaping. Completion is slated for early next year.

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HospitalityLoansMassachusettsNortheast

EagleBridge Capital Arranges $10.8M Loan for Refinancing of Central Massachusetts Hotel

by Taylor Williams

AUBURN, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $10.8 million loan for the refinancing of an 82-room Hampton Inn hotel in Auburn, located just outside of Worcester in Central Massachusetts. Rooms contain king or double queen beds, microwaves, refrigerators and coffeemakers, and amenities include an indoor pool, fitness room, meeting room, business center and complimentary breakfast. Ted Sidel of EagleBridge Capital arranged the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. The borrower and direct lender were not disclosed.

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