MARBOROUGH, MASS. — EagleBridge Capital has arranged $2.7 million in acquisition financing for The Learning Experience, a 10,000-square-foot childcare learning center in Marborough. Located at 70 Simarano Drive, the single tenant leases the property on a long-term basis. The Learning Center has more than 300 locations across the country. Brian D. Sheehan and Ted M. Sidel of EagleBridge secured financing for the undisclosed borrower through a leading Massachusetts thrift institution.
WEST BRIDGEWATER, MASS. — KeyPoint Partners has negotiated the $3.4 million sale of West Bridgewater Plaza, a retail property in West Bridgewater. The 133,000-square-foot retail center is located off Route 28. Don Mace of KeyPoint represented the buyer, the owner and operator of indoor entertainment concept FunZ. The buyer plans to open a FunZ location in the former Shaw’s space at the center.
BOSTON — Cushman & Wakefield Senior Housing Capital Markets, acting as advisor to HCP Inc., has arranged the sale of a portfolio of seniors housing communities managed by Brookdale Senior Living. HCP agreed to sell the 17 Brookdale-managed properties to funds managed by affiliates of Apollo Global Management LLC (NYSE: APO) for $264 million. The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, James Dooley and Sam Dylag.
MIDDLEBOROUGH, MASS. — NKF has brokered the sale of 19 Leona Drive and 139 Campanelli Drive in Middleborough. The two distribution facilities were sold for an undisclosed price. 19 Leona Drive currently serves as the corporate headquarters for Sager Electronics, an electronic components distributor. 139 Campanelli Drive serves as a distribution center for Stop & Shop, a regional grocer with more than 400 stores across New England, New York and New Jersey. Both properties are located within the Campanelli Business Park, a 220-acre, 1.5 million-square-foot industrial campus. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the sellers, Artemis Real Estate Partners and Calare Properties. The buyer was NorthBridge Partners.
BIRMINGHAM, ALA. — Birmingham-based Capstone Development Partners has opened five on-campus student housing communities totaling 3,000 beds, including two in California and one in Seattle. Development costs reached $350 million, $150 million of which was financed using private equity, with the remaining $200 million financed through a 501(c)3 nonprofit owner or a university using tax-exempt debt. Properties include Montage on College at San Diego State University in San Diego; Calaveras Hall at the University of the Pacific in Stockton, Calif.; Vi Hilbert Hall at Seattle University in Seattle; The Village Phase 2 at The University of South Florida in Tampa, Fla.; and the University of Massachusetts Boston Residence Hall and Dining Center in Boston. Montage on College at San Diego State University was built through a ground lease with the San Diego State University Real Estate Foundation. The property offers more than 300 beds of apartment-style housing. Community amenities include a resort-style spa, barbecue area, outdoor lounge and fire pit, community kitchen, fitness center, gaming and media room, and various study spaces. Capstone Development Partners’ management entity, Capstone Management Partners, operates the property. Calaveras Hall at the University of the Pacific offers 380 beds tailored to upper-level students. Shared amenities …
BOSTON — MP Boston, a local mixed-use and residential developer, broke ground Wednesday on Winthrop Center in downtown Boston. The $1.35 billion mixed-use development represents the largest private investment for a single project in Boston’s history. The site was formerly owned by the City of Boston and housed the Winthrop Square Garage. Set for a spring 2022 completion, Winthrop Center will feature 750,000 square feet of office space, 420 condominiums, retail and restaurants, as well as a public gathering space. The tower will rise 691 feet tall, making it the fourth-largest tower in Boston. At the base of Winthrop Center will be the Great Hall, an open civic space available to the public. The center will also feature an open mid-block alley between Winthrop Square/Downtown Crossing and Federal Street/the Financial District. Handel Architects LLP and Steven Winter Associates Inc. designed the tower to achieve LEED Platinum certification with hopes to also be a certified Passive House Pilot Project. Begun by Germany-based research organization Passivhaus Institut, Passive House is the only internationally recognized energy standard in commercial construction. If achieved, Winthrop Center would be the largest Passive House office building in the world. MP Boston is developing the tower in conjunction …
ANDOVER, MASS. — HFF has negotiated the $15 million sale of a 92,700-square-foot data center in Andover, approximately 24 miles north of Boston. Located at 15 Shattuck Road, the property was 100 percent leased at the time of the sale to Tierpoint, a national provider of information technology and data center services. Coleman Benedict, Ben Sayles and Kerry Hawkins of HFF represented the seller, Carter Validus Mission Critical REIT I, in the transaction. The buyer was Menlo Equities. Additionally, Jennifer Keller of HFF arranged $9 million in financing for the buyer through Berkshire Bank.
WATERTOWN, MASS. — Paradigm Capital Advisors has acquired Riverworks at Aetna Mills, an office complex in Watertown. Located at 480 Pleasant St., the property was originally built in 1907 and has been renovated with a number of capital improvements. Recent upgrades include improvements to the common areas, building systems, tenant spaces, cafeteria, fitness center and interior courtyard. The property is currently 98 percent leased to 15 tenants. Riverworks is one mile from Watertown Square, three miles from Cambridge and seven miles from Boston’s central business district.
BOSTON — Newmark Knight Frank (NKF) has negotiated the $107 million sale of a 192,890-square-foot office and retail complex in Downtown Boston. Located at 226 Causeway St., the property features a tenant roster anchored by the corporate headquarters of Oxfam America, the Boston Celtics and two divisions of TripAdvisor, as well as a regional office for Stantec. Street-level retail at the property includes Equal Exchange Café and Title Boxing Club. The complex is located near The Hub on Causeway, a 1.5 million-square-foot residential, retail and office addition to the TD Garden, a multi-purpose arena that serves as home to the Boston Bruins and Boston Celtics. Located along the Charles River in the bustling Haymarket Square submarket, the property sits in the shadow of the three bridges connecting downtown Boston to Cambridge, Charlestown and the North Shore suburbs. EdwardMaher, Matthew Pullen, James Tribble, Samantha Hallowell and Robert Griffin of NKF’s Boston Capital Markets team represented the seller, Invesco, in the transaction. The buyer was Boston-based real estate private equity firm Rockpoint Group. “226 Causeway epitomizes the ‘cool core’ investment profile, offering stable cash flow and tangible upside potential,” says Edward Maher, NKF vice chairman. “The asset is the beneficiary of significant …
CAMBRIDGE, MASS. — The Stubblebine Company/CORFAC International has brokered the $79 million sale of a 192,459 mixed-use portfolio on 11.9 acres. The property is located in the Cambridge Quad, a life science and residential campus. The portfolio consists of three properties located at 127 Smith Place, 13 Mooney St. and 45-67 Mooney St. David and James Stubblebine of Stubblebine/CORFAC represented the buyer, Cabot, Cabot & Forbes, in the transaction. The seller was undisclosed. The Cambridge Quad is near Alewife Station, the anchor of the MBTA’s Red Line, which connects West Cambridge, Harvard Square, Kendall Square and the Seaport.