Massachusetts

Normandy Real Estate Partners Sells Office Building in Concord, Massachusetts, for $63.5M

by Amy Works January 10, 2017

CONCORD, MASS. — Normandy Real Estate Partners has completed the sale of 300 Baker Avenue, an office building located in Concord. Novaya Real Estate Ventures acquired the property for $63.5 million. The 413,415-square-foot office building recently underwent significant renovations, including an updated lobby, common area, amenity and building system upgrades. Amenities at the building include a full-service cafeteria, fitness center, conference center and basketball and volleyball courts. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of NGKF Capital Markets represented the seller in the deal. Additionally, David Douvadjian and Brian Butler of Newmark Grubb Knight Frank arranged acquisition financing for the buyer.

January 10, 2017

Loans Massachusetts Multifamily Northeast

CBRE/NE Secures $31.5M Acquisition Loan for 404-Unit Apartment Community in Massachusetts

by Amy Works January 3, 2017

FALL RIVER, MASS. — CBRE/New England has secured a $31.5 million Fannie Mae loan to finance the acquisition of South Winds Apartments, a 404-unit residential community located in Fall River. Boston-based Taurus Investment Holdings acquired the property for $39.3 million, or $97,400 per unit. Built in 1971, the property comprises 26 buildings featuring a total of 146 one-bedroom, 218 two-bedroom and 40 three-bedroom units. John Kelly and Matt Marshall of CBRE/NE secured financing for the buyer.

January 3, 2017

Massachusetts Multifamily Northeast

Gerding Edlen Acquires 280-Unit Apartment Community in Quincy, Massachusetts, for $89.5M

by Amy Works December 23, 2016

QUINCY, MASS. — An affiliate of Portland, Ore.-based Gerding Edlen has acquired Neponset Landing, a high-rise apartment community located in Quincy. Northwestern Mutual Real Estate sold the 280-unit property for $89.5 million. Built in 2007, the 12-story property features 100 one-bedroom units, 42 one-bedroom with den units, 119 two-bedroom units and 19 two-bedroom with den apartments. Simon Butler and Biria St. John of CBRE/New England represented the seller and procured the buyer in the deal.

December 23, 2016

Loans Massachusetts Multifamily Northeast

EagleBridge Capital Arranges $3.3M in Financing for Apartment Complex in Randolph, Massachusetts

by Amy Works December 21, 2016

RANDOLPH, MASS. — EagleBridge Capital has arranged $3.3 million in permanent mortgage financing for an apartment complex located at 34-42 West St. in Randolph. Ted Sidel and Brian Sheehan of EagleBridge secured the financing, which includes a 10-year term and a 30-year amortization schedule, through Freddie Mac. The two-building complex features 32 apartments in a mix of 14 two-bedroom/one-bath units, 17 one-bedroom/one-bath units and one studio unit. At the time of financing, the property was 100 percent leased. The name of the borrower was not released.

December 21, 2016

Industrial Massachusetts Northeast

Related Beal Acquires 286,000 SF R&D Facility in Boston’s Seaport District

by Amy Works December 20, 2016

BOSTON — Related Beal through Related Real Estate Fund II has acquired a research and development facility located at 27 Drydock Ave. in Boston’s Seaport District for an undisclosed price. The building was purchased through the assumption of an existing long-term ground lease from Zoom Group LLC. At the time of sale, the 286,000-square-foot building was 84 percent occupied by healthcare, pharmaceutical and technology companies, including Dana Farber Cancer Institute, Ginkgo Bioworks, InviCRO, Emulate Inc. and 908 Devices.

December 20, 2016

Massachusetts Multifamily Northeast

Akelius US Buys 153 Apartments in Boston for $64.2M

by Amy Works December 20, 2016

BOSTON — An affiliate of Akelius US has purchased Carson Tower, a multifamily property in south Boston, from a joint venture between Fairfield Residential and an institutional partner for $64.2 million. Built in 1973, the property features 153 apartment units. With this acquisition, Akelius owns 11 properties in Boston and a total of 28 properties in the United States. The name of the seller was not released. Simon Butler and Biria St. John of CBRE/New England represented the seller and procured the buyer in the deal.

December 20, 2016

Massachusetts New York Northeast Retail

Horvath & Tremblay Brokers Sale of Three Properties in Northeast

by Amy Works December 16, 2016

NORWOOD, MASS., EAST ISLIP, N.Y., AND GREENSBURG, PA. — Horvath & Tremblay has arranged the sales of three retail assets in Norwood, East Islip and Greensburg. The firm facilitated the $1.9 million sale of a leasehold interest of TD Bank in Norwood and the $1.5 million sale of a leasehold interest of a TD Bank in East Islip. Bob Horvath, Todd Tremblay and Peter Butler of Horvath & Tremblay represented the undisclosed seller and procured the undisclosed buyer. Additionally, Horvath & Tremblay arranged the $2.1 million sale of an Applebee’s restaurant located at the Westmoreland Mall in Greensburg. Mark Brockwell, Bob Horvath and Todd Tremblay represented the undisclosed seller in the deal.

December 16, 2016

Industrial Loans Massachusetts Northeast

KeyBank Secures $19M in Financing for Warehouse Facility in Norton, Massachusetts

by Amy Works December 5, 2016

NORTON, MASS. — KeyBank Real Estate Capital, on behalf of NorthBridge Partners LLC, has secured a $19 million CMBS first mortgage loan for the acquisition of a warehouse and distribution facility located in Norton. Built in 1999 and renovated in 2004, the 347,000-square-foot property is occupied by Autopart International Inc. John Christen of KeyBank’s Commercial Mortgage Group structured the non-recourse loan with a 10-year term, five-year interest-only payment period and a 30-year amortization schedule.

December 5, 2016

Massachusetts Northeast Retail

Linear Retail Properties Leases 18,100 SF to PetSmart in Bourne, Massachusetts

by Amy Works December 1, 2016

BOURNE, MASS. — Linear Retail Properties has leased 18,100 square feet to PetSmart at its Bourne Bridge Crossing, a shopping center located at 2 Bridge Approach St. in Bourne. Joel Kadis and Greg Drocz provided in-house representation for the landlord, Linear Retail Properties, while Andrew Bonica of Eastern Retail and Brian Goodwin of Metro Commercial Real Estate represented the tenant in the deal. Additionally, Eastern Mountain Sports is relocating inline to 4,103 square feet and Starbucks Coffee extended its lease at the shopping center. Kadis and Drocz represented Linear Retail, while Ken Green of RCS Real Estate Advisors represented the tenant in the relocation.

December 1, 2016

Loans Massachusetts Northeast Office

NorthMarq Capital Negotiates $8M Refinance for Office Building in North Chelmsford, Massachusetts

by Amy Works November 30, 2016

NORTH CHELMSFORD, MASS. — NorthMarq Capital has arranged $8 million in refinancing for Chelmsford Mills, an office property located at 51 Middlesex St. in Chelmsford. The loan features a 10-year term and a 25-year amortization schedule. The property features 208,698 square feet of office space. Ed Reikstins of NorthMarq secured the refinancing for the undisclosed borrower.

November 30, 2016

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