Massachusetts

The Davis Companies Breaks Ground on 85-Unit Condo Building in Massachusetts

by Amy Works July 25, 2016

ALLSTON, MASS. — The Davis Companies has broken ground on Telford 180, a condominium building in Allston. The six-story building will feature 85 condos in a mix of studio, one-, two- and three-bedroom layouts. Each residence will include large windows, high ceilings, a washer/dryer, and a kitchen with an open layout. On-site amenities include a first-floor lobby; rowing room; bike storage area with lounge and dog wash; an outdoor courtyard with grills, a fire pit and green space; private conference rooms and a fitness center with an outdoor wellness retreat area. The project is slated for completion in early fall 2017. CUBE3 with Stantec is serving as project architect and Ryan Associates is providing landscape design services.

July 25, 2016

Massachusetts Mixed-Use Northeast Office Retail

GLL Real Estate Partners Sells Mixed-Use Building in Boston for $42.1M

by Amy Works July 25, 2016

BOSTON — GLL Real Estate Partners has completed the disposition of a mixed-use building located at 70 Franklin St. in Boston. Deka acquired the 85,977-square-foot property for $42.1 million. At the time of sale, the building was 91 percent leased to eight tenants, including TIAA-CREF, Jos. A. Bank and Papyrus. Robert Griffin, Edward Maher and Matthew Pullen of Newmark Grubb Knight Frank represented the seller in the transaction.

July 25, 2016

Industrial Massachusetts Northeast Office

Nordblom Co. Sells Two Flex Buildings in Massachusetts

by Amy Works July 22, 2016

MARLBOROUGH, MASS. — Nordblom Co. has completed the disposition of two high-tech flex buildings located at 450 and 500 Donald Lynch Blvd. in Marlborough. Atlantic – Fulcrum Realty LLC, a joint venture between Atlantic Management Corp. and Fulcrum Real Estate Partners, purchased the properties for an undisclosed price. At the time of sale, the properties were 92 percent leased with only 9,521 square feet left available for lease at the 59,667-square-foot building at 450 Donald Lynch Blvd. The facility at 500 Donald Lynch Blvd. totals 62,224 square feet. Tenants at the two buildings include New England Cryogenics Center, SENKO Advanced Components and WaterSep BioSeparations Corp. The buildings are part of the 50-acre Solomon Pond Park, a 1 million-square-foot mixed-use development.

July 22, 2016

Massachusetts Northeast Office

Hilco Global Acquires 169,000 SF Office Building in Massachusetts for $26M

by Amy Works July 20, 2016

NORWOOD, MASS. — Hilco Global has acquired an office building located at 825 University Ave. in Norwood from KBS Realty Advisors/KBS Capital Markets Group for $26 million. The 169,000-square-foot Class A building is fully occupied by Xcerra and operates as Illinois Tool Works’ R&D production space. Camille Renshaw of Stan Johnson Co. brokered the transaction.

July 20, 2016

Loans Massachusetts Northeast Office

Fantini & Gorga Secures $7.5M in Financing for Office Property in Massachusetts

by Amy Works July 19, 2016

PEABODY, MASS. — Fantini & Gorga has arranged $7.5 million in permanent financing for two office buildings located at 100 and 200 Corporate Place in Peabody. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower through a regional bank. Built in 1984, the five-story building at 100 Corporate Place features 46,000 square feet, and the 48,000-square-foot building at 200 Corporate Place was built in 1983.

July 19, 2016

Massachusetts Multifamily Northeast

CBRE/NE Arranges Sale of 154-Unit Apartment Community in Massachusetts

by Amy Works July 18, 2016

STOUGHTON, MASS. — CBRE/New England has arranged the sale of Coppermill Park, a garden-style apartment community located at 3101 Stagecoach Road in Stoughton. Fairfield Residential sold the 154-unit property for an undisclosed sum. Built in 2010, the property consists of three four-story buildings with a mix of 55 one-bedroom apartments, 53 one-bedroom with den units and 46 two-bedroom apartments on 8.6 acres of land. The apartments range in size from 710 to 1,042 square feet. The community was developed under Chapter 40B with 75 percent of the units at market and 25 percent of the units at 80 percent of area median income. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the undisclosed buyer in the transaction.

July 18, 2016

Massachusetts Multifamily Northeast

Trinity Financial Opens 310-Unit Apartment Community in Boston’s Bulfinch Triangle

by Amy Works July 18, 2016

BOSTON — Trinity Financial has opened One Canal Apartment Homes, an apartment community located in Boston’s Bulfinch Triangle neighborhood. Apartment Investment and Management Co. (Aimco) invested $195 million in the 12-story, 310-unit apartment community. One Canal features a mix of studio, one-, two- and three-bedroom layouts, plus 44 luxury penthouses on the building’s top two floors. On-site amenities include a 2,000-square-foot fitness center and a rooftop social deck with a heated pool, fire pit lounge, outdoor theater and 360-degree panoramic views of the city. Additionally, the project features 21,000 square feet of retail space that will house City Winery, a high-end culinary and cultural destination that will offer concerts, food and wine classes.

July 18, 2016

Life Sciences Loans Massachusetts Northeast Office Top Stories

Senior Housing Properties Trust Secures $620M Loan for Life Sciences Buildings in Boston

by Nellie Day July 18, 2016

BOSTON — Senior Housing Properties Trust (NYSE: SNH) has obtained a $620 million mortgage loan for two life sciences buildings in Boston’s Seaport District. The 15-story, Class A towers include 1.6 million square feet of lab space, corporate office space, structured parking and ground-floor retail space. SNH purchased the towers in May 2014 for $1.1 billion. They are 96 percent leased to Vertex Pharmaceuticals through 2028. Vertex is the manufacturer of hepatitis C and cystic fibrosis pharmaceutical treatments. The 10-year loan is interest-only, carries a fixed interest rate of 3.53 percent and matures in August 2026. SNH will use the loan proceeds to repay a portion of the outstanding borrowings under the company’s $1 billion unsecured revolving credit facility, as well as for general business purposes. Following the repayment, there will be approximately $900 million available under SNH’s unsecured revolving credit facility. “We are pleased to take advantage of the current low interest rate environment to term out the majority of the outstanding balance on our unsecured revolving credit facility and to extend the average maturity of our debt to 8.9 years,” says David Hegarty, SNH’s president and chief operating officer. “We believe that this transaction also highlights the value …

July 18, 2016

Hospitality Massachusetts Northeast

Consortium Acquires 273-Room Taj Boston Hotel in Boston’s Back Bay

by Amy Works July 14, 2016

BOSTON — A consortium comprising New England Development, Eastern Real Estate, Rockpoint Group, Lubert-Adler and Highgate has acquired Taj Boston, a historic hotel located at 15 Arlington St. in Boston’s Back Bay neighborhood. Taj Hotels Resorts and Palaces sold the property for an undisclosed price. As part of the transaction, New England Development, Eastern Real Estate and Highgate will serve as asset managers, working closely with the Taj Hotels Resorts and Palaces team, Rockpoint Group and Lubert-Adler. The 90-year-old hotel comprises 273 guestrooms, including 44 spacious suites featuring classic décor and wood-burning fireplaces. The hotel will retain the Taj Hotels Resorts and Palaces brand through a long-term management services agreement. Sentinel Advisors Pte. Ltd. worked closely with Eastern Real Estate in advising the buyers on strategy for the transaction.

July 14, 2016

Loans Massachusetts Multifamily Northeast

Canyon Partners Provides $12.7M Investment for Residential Condo Project in Boston

by Amy Works July 13, 2016

BOSTON — Canyon Partners Real Estate has provided a $12.7 million investment in subordinate financing to fund the development of The Boulevard, a 12-story residential condominium project located at 110 Broad St. along Rose Kennedy Greenway in Boston. A team led by New Boston Ventures is developing the property, which will feature 31 market-rate units, five artist live-work units, 3,550 square feet of retail space and 48 parking spaces. Construction commenced in May with completion slated for early 2018.

July 13, 2016

Newer Posts

Older Posts