REVERE, MASS. — NAI Hunneman has brokered the $6.3 million sale of 777 N. Shore Road, a 31,950-square-foot office/warehouse building located on Route 1A in Revere. The location will be the new headquarters location for AmQuip, a crane rental company. NAI Hunneman’s Trey Agnew represented the landlord, N.S. Realty Trust, while Steve Clancy of CBRE represented the buyer, Alterra LLC. The property includes a one- and two-story office and warehouse building, with the office component accounting for 25 percent. The warehouse component features 23-foot clear heights and 10 overhead doors.
FRANKLIN, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Estate at Franklin, an 81-unit seniors housing facility in Franklin. Mark Myers, Joshua Jandris and Matthew Andriano of IPA represented the seller, a family-owned real estate development company, and procured the buyer, a privately held real estate investment and property management firm. Completed in 2014, The Estate at Franklin is located seven miles from the 141-bed Landmark Medical Center.
WALPOLE, MASS. — A joint venture between Benchmark Senior Living and Farallon Capital Management has acquired New Pond Village, a continuing care retirement community (CCRC) in the Boston suburb of Walpole. BH Brightview New Pond Village LLC sold the property for an undisclosed price. The community offers 167 independent living units and 32 supportive living units. The three-story, 259,000-square-foot building was built in 1990 on 19.4 acres. New Pond is Massachusetts-based Benchmark’s 54th community and fourth CCRC. Allen McMurtry, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield represented the seller in the transaction.
NORTHBOROUGH, MASS. — Transwestern Consulting Group (TCG) has arranged the sale of One Beeman Road in Northborough on behalf of Stockbridge Capital Group. According to public records, the sale price was $33 million. TH Real Estate purchased the 342,900-square-foot, high-bay industrial facility. TH Real Estate is an affiliate of Nuveen, the investment management arm of TIAA. The facility is 100 percent leased to FedEx SmartPost, serving as the company’s sole New England hub. TCG’s Chris Skeffington, John Lashar and Joe Olin represented the seller and sourced the buyer in the transaction. The firm has been retained by the new ownership to provide leasing and property management services for the building. One Beeman Road features 104 tailboard doors with cross-dock capability and building clear height up to 33 feet. A tenant since 2001, FedEx recently extended its term through 2023.
BOSTON — New York Life Real Estate Investors has originated a 10-year, $207.8 million loan for 100 High St., a 546,300-square-foot office property in Boston. The loan was made to an affiliate of the Rockpoint Group LLC. The property is located in Boston’s financial district.
AMHERST, MASS. — MassHousing has provided $15.8 million in financing to Redwood Housing for the renovation and preservation of 100 affordable housing units at Clark House in Amherst. Redwood Housing recently acquired Clark House and has extended the federal Section 8 housing assistance payment contract on all 100 units at the property. This is the first transaction Redwood Housing has completed in Massachusetts. MassHousing provided the permanent loan through the HUD/HFA 50/50 risk share program. Of the 100 units at Clark House, 81 are designated affordable for elderly residents, and 19 are affordable units for families and disabled residents. Redwood plans to replace all domestic hot and cold water piping, improve accessibility, upgrade the community room, and replace sliding glass doors and windows. Built in 1980, Clark House is located at 22 Lessey St. The property contains 76 one-bedroom units, 18 two-bedroom units and six three-bedroom units. WinnCompanies manages Clark House.
Bellwether’s New Equity Division Arranges $41.5M Financing for Apartment Community in Norwood, Mass.
NORWOOD, MASS. — Bellwether Enterprise Real Estate Capital has arranged $41.5 million in joint venture equity financing on behalf of John M. Corcoran and Co. for the $199 million acquisition of Windsor Garden Apartments in Norwood. The deal is the first equity financing of Bellwether’s New Orleans-based equity products division since its formation in November 2016. The company’s Todd Johnson arranged and structured the joint venture equity, which was provided by a New York City-based real estate investment fund. Located in metro Boston, Windsor Garden Apartments is a 914-unit apartment community. The complex includes 31 three-story apartment buildings, 36 two-story townhouses and six accessory buildings including a clubhouse and daycare center. Units range from one to three bedrooms and range from 580 to 1,210 square feet. The community features an on-site commuter rail station providing service to Boston’s Back Bay and South Station.
NEWTON, MASS. — Boston Realty Advisors has arranged the $20.9 million sale of Paragon Towers in Newton. The 60,826-square-foot property at 233 Needham St. sold to Massachusetts Credit Union Share Insurance Corp. (MSIC), which purchased it from KS Partners. Boston Realty Advisors’ Jeremy Freid and Adam Meixner represented KS Partners in the transaction. Jason Weisman, Nick Herz, and Michael D’Hemecourt of Boston Realty Advisors were also involved in the sale process.
CHICOPEE, MASS. — Investment sales broker Northeast Private Client Group has brokered the $6.4 million sale of Brook Edge Apartments, an 82-unit apartment property located at 14-64 Simard Drive in Chicopee. Edward Jordan and Bradley Balletto of Northeast Private Client Group represented the seller, Brook Edge LLC, in the transaction. The firm’s Taylor Perun sourced the buyer, Naviah Investments LLC. Built in 1970, Brook Edge Apartments sits on 2.8 acres near I-91, I-391 and the Massachusetts Turnpike. The 82-unit property features laundry rooms in each building.
ASHLAND, MASS. — SVN | Parsons Commercial Group | BOSTON has arranged the sale of a 5,728-square-foot office building at 54-58 Union St. in Ashland. Victor Galvani and Garrett Quinn of SVN | Parsons represented the seller, Euroland Real Estate, and procured the buyer, Martel HVAC Corp. Martel, a heating and cooling solutions company, will move its corporate headquarters from Holliston to the property. Eurobrew Inc., a specialty beer importer, formerly owned and occupied the building. The property consists of office space, basement storage and a parking lot.