Massachusetts

Frazer Capital Sells Retail, Office Property in Boston for $24.8M

by Amy Works January 12, 2018

BOSTON — Frazer Capital has completed the sale of a retail and office building located at 41 Winter St. in Boston. Gazit Horizons Inc., a subsidiary of Israel-based Gazit-Globe, has purchased the property for $24.8 million, or $864 per square foot. Located in Boston’s Downtown Crossing district, the property features 28,690 square feet of retail and office space. At the time of sale the property was fully leased. Liberty Travel anchors the building. Robert Griffin, Edward Maher, Geoffrey Millred, Matthew Pullen, Justin Smith, Paul Penman and Christopher Peterson of NKF Capital Markets represented the seller in deal.

January 12, 2018

Massachusetts Multifamily Northeast

NAI Hunneman Brokers $5M Sale of Apartment Building in Boston’s Back Bay

by Amy Works January 11, 2018

BOSTON — NAI Hunneman has arranged the sale of a brownstone apartment building located at 90 Saint Botolph St. in Boston’s Back Bay. 16 Pinckney Street LLC acquired the property from 90 St. Botolph LLC for $5 million. The 10-unit property features eight one-bedroom apartments and two studio apartments. At the time of sale, the building was fully occupied. Carl Christie and Dan McGee of NAI Hunneman represented the seller and procured the buyer in the deal.

January 11, 2018

Loans Massachusetts Multifamily Northeast

HFF Secures $250M Construction Financing for Multifamily Development in Boston

by Amy Works January 9, 2018

BOSTON — HFF has arranged a $250 million construction loan for the development of the first phase of Bulfinch Crossing, a 46-story residential property located at 100 Sudbury St. in downtown Boston. The borrower is a joint venture between National Real Estate Advisors and its Boston-based development partner, The HYM Investment Group. John Fowler, Riaz Cassum and Jennifer Keller of HFF secured the 15-year loan through Pacific Life Insurance Co. for the borrower. The first phase residential tower is part of a 4.8-acre, 2.9 million-square-foot redevelopment of Government Center Garage that will transform the above-grade parking garage into a mixed-use district in downtown Boston. Featuring 368 rental units and 55 condominiums, the residential tower will offer an outdoor pool, three roof decks, a fitness center, a yoga studio, a clubroom, a children’s playroom, a golf simulator, a full chef’s kitchen and an outdoor dog run and dog spa.

January 9, 2018

Massachusetts Northeast Retail

EXP Realty Advisors Brokers $17M Acquisition of Retail Property in Harwich, Massachusetts

by Amy Works January 9, 2018

HARWICH, MASS. — EXP Realty Advisors has arranged the acquisition of a retail property located at 18 Sisson Road in Harwich. A New York City-based real estate investor purchased the property from an undisclosed seller for $17 million in a 1031 exchange transaction. Star Market, a grocery store chain, occupies the 59,054-square-foot property on a net-lease basis. Andrew Greenberg of EXP Realty Advisors represented the buyer in the deal.

January 9, 2018

Loans Massachusetts Mixed-Use Multifamily Northeast Retail

Natixis Arranges $480.8M Construction Loan for Development in Boston Seaport Square

by Amy Works January 5, 2018

BOSTON — Natixis has arranged a $480 million construction loan for Cottonwood Management to develop 3.5 acres in Boston Seaport Square in Boston. The loan will finance a 717-unit residential facility, two condominium towers and one luxury rental tower, as well as a two-story, 125,000-square-foot retail base podium centered around a public courtyard. The overall project is an 819,000-square-foot mixed-use space on Boston’s waterfront. The property’s residential units will feature luxury finishes including quartz countertops, stainless steel appliances, gas fireplaces, floor-to-ceiling windows and in-unit laundry, custom Italian cabinetry and porcelain tile. Common amenities will include a wine room, a lounge, outdoor and indoor swimming pools, a spa treatment room, a half basketball court, an innovation center, a children’s playroom, a pet spa and lobbies.

January 5, 2018

Massachusetts Northeast Office

Nordblom Co. Acquires Former Boston Globe Headquarters in Boston

by Amy Works December 21, 2017

BOSTON — Nordblom Co., in partnership with Alcion Ventures, has purchased 135 Morrissey Boulevard, a 700,000-square-foot office building in Boston, for an undisclosed price. The company plans to redevelop the property, which was first constructed in 1958 by The Boston Globe. into an urban innovation campus offering office space for Boston’s businesses to think bigger, act bolder and move the city’s economy forward. The property is in close proximity to MBTA’s Red Line JFK/UMass station and abuts Interstate 93. The name of the seller was not released.

December 21, 2017

Loans Massachusetts Multifamily Northeast

Hunt Mortgage Provides Refinancing for Multifamily Property in Fall River, Massachusetts

by Amy Works December 21, 2017

FALL RIVER, MASS. — Hunt Mortgage has provided a conventional Fannie Mae loan facility and mezzanine loan to refinance South Coast Landings, a multifamily property located in Fall River. The borrower is South Coast Landings LLC. The mezzanine loan will be subordinate to the Hunt Mortgage Capital FNMA loan. The senior loan amount is $23.5 million and the facility is a fixed-rate loan with a 30-year amortization schedule, four years of interest-only payments and a 12-year maturity. The $1 million mezzanine loan has a coterminous maturity with the senior loan at 12 years. The property comprises eight two-story residential buildings featuring a total of 240 units. Situated on 17 acres, the property features a clubhouse and 370 parking spaces.

December 21, 2017

Massachusetts Northeast Retail

NKF Capital Markets Orchestrates Sale of 40,000 SF Retail Building in Saugus, Massachusetts

by Amy Works December 21, 2017

SAUGUS, MASS. — NKF Capital Markets has arranged the sale of a retail property located at the intersection of Route 1 and Main Street in Saugus. Ocean State Job Lot purchased the 40,000-square-foot building from Taylor Saugus Limited Partnership, a joint venture between Eastern Real Estate and a partnership between Josh Katzen and Steve Tannenbaum. The property is fully leased to Bob’s Stores, a regional apparel and footwear retailer. Geoffrey Millerd, Justin Smith and Christoper Peterson of the NKF Capital Markets Boston office represented the seller in the deal.

December 21, 2017

Massachusetts Northeast Retail

Black Creek Capital Sells 49,561 SF Shopping Center in Cohasset, Massachusetts, to Crosspoint Associates

by Amy Works December 19, 2017

COHASSET, MASS. — Black Creek Capital has completed the disposition of Cohasset Village Plaza, a convenience-oriented shopping center located in Cohasset. Crosspoint Associates acquired the 49,561-square-foot property for an undisclosed price. Situated along Route 3A, the property is co-tenanted by CVS/pharmacy, Curtis Liquors and Starbucks Coffee. Geoffrey Millerd, Justin Smith and Christian Brannelly of NKF Capital Markets’ Boston office represented the seller in the transaction.

December 19, 2017

Massachusetts Multifamily Northeast Seniors Housing

Blueprint Brokers Sale of 100-Unit Assisted Living Community in Massachusetts

by Amy Works December 19, 2017

BROCKTON, MASS. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Heights Crossing Assisted Living Residence, a 100-unit assisted living and memory care community located in the Boston suburb of Brockton. Kayne Anderson Real Estate Advisors acquired the property from a regional owner-operator with a strong presence in the Boston area. The price was not disclosed. Originally constructed in 1996, the community was 89 percent occupied at the time of sale. The building is situated near the Bay Pointe Rehabilitation and Nursing Center. Steve Thomes was Blueprint’s lead advisor on the transaction.

December 19, 2017

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