Massachusetts

Square Mile, JPMorgan Chase Provide $75M in Financing for Acquisition of Boston Marriott Quincy

by David Cohen March 20, 2018

QUINCY, MASS. — Square Mile Capital Management and JPMorgan Chase have provided $75 million in financing to Columbia Sussex Corp. for the acquisition and renovation of the 466-room Boston Marriott Quincy in Quincy. The hotel is located in South Boston’s Quincy market, 12 miles from downtown Boston and sits atop a hill overlooking the city skyline and Massachusetts coastline. Amenities at the hotel include a fitness center, indoor swimming pool, business center and 16,000 square feet of renovated meeting space. Lawrence Britvasn and Matt Jacobs of Hodges Ward Elliot in New York arranged the financing. The Columbia Sussex Corp. is a privately owned hotel owner and operator based in Crestview Hills, Ky., with a portfolio of more than 13,000 rooms.

March 20, 2018

Acquisitions Massachusetts Northeast Office

JLL Arranges Sale of 107,000 SF Office Building in Medford for $25M

by David Cohen March 20, 2018

BOSTON — JLL Capital Markets has arranged the sale of 10 Cabot Road in Medford, a 107,026-square-foot office building for $25 million. Frank Petz, Matthew Sherry and Scott Carpenter of JLL brokered the sale of the property on behalf of Boston-based Morris & Morse Co. The buyer was KS Partners. At the time of the sale, 10 Cabot Road was 79 percent leased to nine tenants. The building is located four miles north of downtown Boston with access to the Massachusetts Bay Transportation Authority’s Orange line.

March 20, 2018

Massachusetts Multifamily Northeast

NAI Hunneman Brokers $4.3M Multifamily Sale in Boston’s South End

by David Cohen March 15, 2018

BOSTON — NAI Hunneman’s Capital Markets Group has arranged the sale of a 10-unit brownstone building in Boston’s South End neighborhood at 665-667 Massachusetts Ave. for $4.3 million. The property is made up of five one-bedroom and five two-bedroom units. Carl Christie and Dan McGee of NAI Hunneman represented the undisclosed seller and procured the buyer, High Street Properties. The property features access to public transportation via the Silver Line stop on Washington Street.

March 15, 2018

Massachusetts Northeast

NKF Capital Brokers Sale of 112,148 SF Office Building in Suburban Boston

by David Cohen March 13, 2018

ANDOVER, MASS. — NKF Capital Markets has brokered the sale of 150 Minuteman Road in Andover, Mass., to Bentall Kennedy on behalf of one of its clients. The 112,148-square-foot Class A office building is fully leased to Smith & Nephew, a global medical technology company. The asset is one of seven buildings comprising Minuteman Park, a master-planned suburban campus totaling 1 million square feet of Class A office space. The park is 26 miles north of Boston, directly off Interstate 93.

March 13, 2018

Massachusetts Mixed-Use Northeast

Nauset Breaks Ground on Mixed-Use Complex in Central Square, Cambridge

by David Cohen March 13, 2018

BOSTON — Nauset Construction has started construction on a mixed-use project at Ten Essex St. in Cambridge, Mass., that will transform a surface parking lot into a transit-oriented five-story development with 46 apartments and 3,000 square feet of retail space. The project is being built by Nauset for owner 3MJ Realty. Designed by Golden Architects of Quincy, Perkins Eastman and Mark Boyes-Watson Architects, the project is located directly on the Central Square Red Line. Amenities will include a rooftop patio and second-floor deck, bike storage, a green roof terrace and balconies in several of the units. Café Nero and H Mart, an Asian-inspired supermarket, will anchor the ground floor. Nauset previously converted the Holmes building in Central Square from offices to apartments in 2013. The project is slated for completion in January 2019.

March 13, 2018

Industrial Massachusetts Mixed-Use Northeast Office Retail

NKF, Cushman & Wakefield Arrange Sale of 107-Acre Development Site Near Boston

by Amy Works March 8, 2018

WOBURN, MASS. – NKF and Cushman & Wakefield have arranged the sale of Montvale Hill, a development parcel in Woburn, a suburb of Boston. Leggat McCall Properties acquired the development opportunity from Kraft Heinz for an undisclosed price. The development site can accommodate users from 300,000 square feet to 700,000 square feet. Torin Taylor, Justin Smith and Robert Griffin of NKF, along with Christopher Porter of Cushman & Wakefield, represented the seller in the deal.

March 8, 2018

Loans Massachusetts Multifamily Northeast Seniors Housing

Lancaster Pollard Completes $11.9M Refinancing for 54-Unit Skilled Nursing Facility in Massachusetts

by Amy Works March 8, 2018

PITTSFIELD, MASS. – Lancaster Pollard has arranged an $11.9 million HUD refinancing for Berkshire Place, a 54-unit skilled nursing facility in the western Massachusetts city of Pittsfield. The borrower is Berkshire Retirement Home, a nonprofit owner-operator. Berkshire Place was constructed as a replacement facility for Berkshire Retirement Home’s original property in 2014, using conventional bank financing with a floating interest rate. Three years after opening, ownership sought to refinance that existing bank debt using fixed-rate HUD financing. Aaron Becker led the transaction for Lancaster Pollard.

March 8, 2018

Market Reports Massachusetts Northeast Northeast Market Reports Office

The Boston Office Market Keeps On Marching

by Taylor Williams March 7, 2018

Simply put, Boston is — and will continue to be — a top destination for tenants and capital alike. With strong market fundamentals and key drivers (education, finance, healthcare, life sciences and technology), 2018 is likely to be another terrific year for the commercial real estate sector. Market Metrics Boston’s urban core comprises four major submarkets: Downtown, Back Bay, Seaport and Cambridge. Together, these submarkets total more than 96.1 million square feet of office and lab space. This sector of the market features a vacancy rate of approximately 8.8 percent, positive net absorption of more than 300,000 square feet in 2017, and rental rates that are on the rise. Boston’s urban office market is largely driven by the region’s high concentration of educational institutions, financial and professional services, healthcare, life sciences and, perhaps most important, technology. These industries excel in the Boston area due to its high concentration of knowledge workers and its spirit of innovation and entrepreneurship. Tenant In-Migration The biggest trend impacting Boston recently has been the large-scale relocations of tenants into the urban core — both from within and outside of the market. This is a trend that shows little signs of slowing down. • GE — …

March 7, 2018

Massachusetts Northeast Office

NKF Orchestrates $53.1M Sale of Office Building in Metro Boston

by Amy Works March 6, 2018

WESTWOOD, MASS. — NKF Capital Markets has arranged the sale of an office asset located at 101 Station Drive in Westwood. National Development and Charles River Realty Investors sold the property to AEW Capital Management, on behalf of one of its institutional separate account clients, for $53.1 million. At the time of sale, the 208,134-square-foot property was fully occupied by eight tenants, including General Dynamics, Mott MacDonald, The Predictive Index, Boston Children’s Hospital and Honeywell. On-site amenities at the office property include a café, a fitness center, an outdoor fireplace/lounge, a bicycle rental station and a shuttle service to nearby shops, restaurants and an MBTA/Amtrak train station. Robert Griffin, Edward Maher, Matthew Pulled, James Tribble, Samantha Hallowell, Michael Frisoli and Peter Whoriskey of NKF represented the seller in the transaction.

March 6, 2018

Massachusetts Multifamily Northeast

Samuels & Associates Opens Residential Tower in Boston

by Amy Works March 5, 2018

BOSTON — Samuels & Associates, in partnership with Landsea, has announced the grand opening of Pierce Boston, a residential tower located at the intersection of Brookline Avenue and Boylston Street in Boston’s Fenway-Kenmore neighborhood. Designed by Arquitectonica, the 30-story tower features 190 condominium units, 240 apartment units and more than 20,000 square feet of street-level dining and retail space. Amenities at the tower include The Levity Lounge, a top-floor lounge with sky top pool, seating areas, a private dining room and a library; a 24/7 doorman and concierge service; a fitness room with yoga studio; parking and private sky cabanas for purchase.

March 5, 2018

Newer Posts

Older Posts