BOSTON — Akelius US has purchased a multifamily building located at 12-14 Commonwealth Ave. in the Back Bay neighborhood of Boston. An undisclosed seller sold the asset for $33.5 million. Built in 1928, the property features 58 apartments.
BOSTON — EagleBridge Capital has arranged $9 million in permanent mortgage financing for an industrial facility located at 173 Boston St. in Boston. Situated on 3.8 acres, the 57,600-square-foot warehouse and service facility features 20,000 square feet of office space, multiple drive-in doors and a carport. The facility is net leased to Verizon. Ted Sidel and Brian Sheehan of EagleBridge secured the loan for the undisclosed borrower through a financial institution.
WALTHAM, MASS. — Newmark Knight Frank (NKF) has arranged the sale of Totten Pond Office Park, an office complex located in Waltham. Anchor Line Partners in a joint venture with Northwood Investors acquired the property from TA Realty for $51.5 million. Located at 400, 410 and 460 Totten Pond Road, the three-building office park was 87 percent leased to 43 tenants at the time of sale. On-site amenities for the office park include a cafeteria, fitness center, conference room and café. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF represented the seller in the deal.
BOSTON — Fortis Property Group has purchased Dock Square Garage, a parking garage and retail property located adjacent to Faneuil Hall in downtown Boston, for $170 million. The property features 698 parking spaces and 16,100 square feet of retail space, which is leased to Hard Rock Café. The asset also offers three to four stories of additional development potential. Robert Griffin, Edward Maher, Matthew Pullen and James Tribble of Newmark Knight Frank represented the seller, Dock Square Parking Associates, in the transaction.
NORTH ANDOVER, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of an industrial property located at 1429 Osgood St. in North Andover. School of Leadership-Afghanistan sold the property to Oliver Enterprises for an undisclosed price. The new owner, a full-service landscape design and construction company, will relocate to the 21,060-square-foot property from Woburn, Mass. Alex Berger and Matt Quinlan of SVN|Parsons Commercial represented the seller, while Steve Donahue of Donahue Associates represented the buyer in the deal.
BOSTON — Cornerstone Realty Capital has arranged $38.5 million in financing for Mount Vernon Co.’s development of a mixed-use building, located at the intersection of Western Avenue and Leo M Birmingham Parkway in Boston’s Brighton neighborhood. Cornerstone secured the fixed-rate financing structure, including an interest-only period during construction followed by a 30-year amortization schedule. The six-story building will feature parking for 108 vehicles; three on-street retail spaces totaling 4,578 square feet; residential amenity space, including a rooftop multipurpose room and fitness center; storage for 132 bicycles; 115 market-rate apartments; and 17 affordable apartments. The unit mix includes 53 studios, 43 one-bedroom/one-bath units, 16 one-bedroom/one-bath units with a den and 20 two-bedroom/two-bath units. Ranging from 520 square feet to 906 square feet, the units will feature vinyl plank and tile flooring, Silestone countertops, tile backsplashes, stainless steel appliances and in-unit washers and dryers.
BOSTON — CIM Group and Nordblom Co. have purchased an office building located at 1000 Washington St. and an adjacent parking garage at 321 Harrison Ave. in Boston’s South End. The 11-story building features 242,000 square feet of office space, while the four-level parking garage features 309 stalls. Nordblom has been an owner and operator of 1000 Washington Street and will continue to manage the property. The name of the seller and acquisition price were not released.
NEWBURYPORT, MASS. — Valencia Realty Capital has arranged $4.5 million in acquisition financing for a cold-storage warehouse facility in Newburyport. The financing covers nearly 100 percent of the acquisition cost. The undisclosed borrower acquired the vacant 89,000-square-foot facility, located at 2 Opportunity Way, from a national REIT. Built in 1994 and expanded in 2008, the property features 26-foot clearance heights and approximately 14 percent of the building is office space. Stephen Smeke of Valencia secured the financing from a commercial lender for the borrower.
BOSTON — Massachusetts Housing Finance Agency (MassHousing) has provided $2.1 million in financing to Traggorth Cos. and Southwest Boston Community Development for the construction of Residences at Fairmont Station in Boston’s Hyde Park. Located at 11 Nott St., the community will feature 27 apartments for low- and moderate-income households. MassHousing is providing a $1.8 million permanent loan and $300,000 through the agency’s $100 million Workforce Housing Initiative. The community will feature one studio unit, three one-bedroom units, 18 two-bedroom units and five three-bedroom units, as well as a community room, green space and an outdoor play area. Of the 27 units, six will be for low-income households earning at or below 30 percent of the area median income (AMI) supported by a federal Section 8 Housing Assistance Payment Contract, five will be for households with incomes at or below 50 percent of AMI, 13 will be for households with incomes at or below 60 percent AMI, and three will be workforce housing units for households earning at or below 80 percent AMI. The project is also receiving financing from the city of Boston, and the Massachusetts Department of Housing and Community Development as well as an allocation of Low-Income Housing Tax …
NEWTON, MASS. — Chesapeake Lodging Trust has completed a multi-million renovation at Boston Marriott Newton, located at 2345 Commonwealth Ave. in Newton. The large-scale renovation program included upgrades to all 430 guest rooms, including the bi-level presidential suite, the lobby, guest corridors, all meetings rooms and the 9,000-square-foot Grand Ballroom. All guest rooms feature a 50-inch flat screen television, a workstation, Wi-Fi access, mini refrigerators, in-room safes and coffee makers. The hotel also features a newly redesigned Concierge Lounge on the seventh floor that caters to business travelers. Atlanta-based Design Directions International led the hotel’s renovations. TPG Hotels & Resorts, an affiliate of Procaccianti Cos., operates the hotel, which is owned by Chesapeake Lodging.