Massachusetts

Fantini & Gorga Arranges $13.5M Loan for Massachusetts Apartment Building

by Amy Works October 1, 2015

NEW BEDFORD, MASS. — Fantini & Gorga has arranged $13.5 million in permanent financing for Riverbank Lofts, a former mill that was converted to an apartment property in New Bedford. Situated on 6.5 acres, the three-story property features 126 units in a mix of one-, two- and three-bedroom layouts, a 160-vehicle garage, a fitness center and a common room. The units feature high ceilings, exposed wide plank hardwood floors and stainless steel appliances. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower.

October 1, 2015

Massachusetts Northeast Office

bluebird bio Inks Lease for 253,000 SF Build-to-Suit Facility in Cambridge

by Amy Works September 30, 2015

CAMBRIDGE, MASS. — bluebird bio Inc. has signed a 10-year lease with Alexandria Real Estate Equities Inc. to occupy a 253,000-square-foot, build-to-suit property at 60 Binney St. at Alexandria Center at Kendall Square campus in Cambridge. The lease is for the entire 60 Binney Street building except for a ground-floor retail suite. The project is on track to be delivered in late 2016. bluebird bio, a clinical-stage biotechnology company, plans to relocate its headquarters to the new facility, which will also expand its presence in Cambridge. The Alexandria Center at Kendall Square is a fully integrated urban campus featuring 2.3 million rentable square feet of state-of-the-art office/laboratory space and high-quality amenities, including retail and restaurant facilities, a 33,000-square-foot Cambridge Athletic Club and two acres of open space.

September 30, 2015

Loans Massachusetts Multifamily Northeast

CBRE/NE Arranges $14M in Construction Financing for Liberty Place in Quincy

by Amy Works September 29, 2015

QUINCY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $14 million in construction financing for Liberty Place in Quincy. BP Liberty LLC, an affiliate of Boston Property Development, is developing a 53-unit apartment community, which has already broken ground. Located at 999 Hancock St., the property will feature 67 garage parking spaces, a fitness center, a 2,000-square-foot roof deck, a private function room and a patio/barbecue area overlooking a lawn and dog park. The residential units will feature stainless steel appliances, hardwood flooring, granite countertops, private balconies, in-unit washers and dryers, and oversized windows. John Kelly and Sam Dylan of CBRE/NE procured the financing for the borrower.

September 29, 2015

Massachusetts Northeast Retail

Integrated Builders Tops Off Car Dealership in Massachusetts

by Amy Works September 28, 2015

GREENFIELD, MASS. — Integrated Builders has topped off the new Greenfield Toyota and Ford joint car dealership in Greenfield. Located at 1 Main St., the 32,000-square-foot facility will replace the previous dealership located on the site. The facility will offer a combined 30,000 square feet of dealership space and a 2,000-square-foot system parts mezzanine area. The new facility is slated for completion in November 2016. Integrated Builders is providing construction management services for the project. The project team includes The Curtis Architectural Group, SVE Associates, Flood Consulting and Environmental Design Engineering Inc.

September 28, 2015

Loans Massachusetts Northeast Office

Colliers Arranges Sale, Financing for Office Center in Charlestown, Mass.

by Amy Works September 25, 2015

CHARLESTOWN, MASS. — Colliers International has arranged the sale of and secured financing for Bunker Hill Business Center in Charlestown. Located at 440 Rutherford Ave., the fully leased property offers 52,944 square feet of flex office space. TD Street LLC, an affiliate of Center Court Partners LLC, acquired the property for $14.7 million from New Canaan, Conn.-based Cambridge Hanover Inc. Colliers secured a $10.5 million fixed-rate acquisition loan for the buyer through LStar Capital Finance Inc., the credit affiliate of Lone Star Funds. Scott Dragos, Doug Jacoby, Tony Hayes and Tim Mulhall of Colliers represented the seller in the transaction. Kevin Phelan and Jeff Black led the Colliers debt placement team.

September 25, 2015

Life Sciences Loans Massachusetts Northeast Office

HFF Secures $74.2M in Financing for Lab/Biotech Building in Waltham

by Amy Works September 24, 2015

WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured $74.2 million in first mortgage financing for a lab/biotech facility located at 830 Winter St. in Waltham, a western suburb of Boston. HFF arranged the floating-rate loan with Wells Fargo while working on behalf of the borrower, a joint venture between King Street Properties and an affiliate of Carlyle Realty Partners VII. Completed in 2001, the 182,104-square-foot facility is fully leased to ImmunoGen, GlaxoSmithKline and Histogenics Corp. Greg LaBine of HFF represented the borrower in the financing transaction.

September 24, 2015

Industrial Massachusetts Northeast

Calare Properties Acquires Three Buildings in Campanelli Business Park for $25.3M

by Amy Works September 24, 2015

MIDDLEBOROUGH, MASS. — Calare Properties has acquired three industrial properties located within the Campanelli Business Park in Middleborough for $25.3 million from Campanelli. Totaling 273,000 square feet, the portfolio includes 16 Leona Drive, 19 Leona Drive and 139 Campanelli Drive. The 80,000-square-foot property at 16 Leona Drive features 21-foot clear heights and is 100 percent leased to IDEX Health & Science. The 108,000-square-foot facility at 19 Leona Drive is fully occupied by Sager Electronics, a subsidiary of TTI Inc., a Berkshire Hathaway Inc. company. Finally, the 85,000-square-foot property at 139 Campanelli Drive is 100 percent leased to Stop & Shop Supermarket.

September 24, 2015

Massachusetts Northeast Office

The Gutierrez Company Sells 280,560 SF Office Facility in Massachusetts

by Amy Works September 23, 2015

BURLINGTON, MASS. — The Gutierrez Company has completed the disposition of the second phase of an office and R&D facility in Burlington. Cole Offices & Industrial REIT (CCIT II) Inc. acquired the property for $119.8 million. The 280,560-square-foot office facility is currently leased to Keurig Green Mountain Inc. and features an 875-space parking structure. The first phase of the property, which was not included in the transaction, features 150,700 square feet of office/R&D space. Robert Griffin, Matt Pullen and Michael Frisoli of Cushman & Wakefield represented the seller, while VEREIT Inc. represented the buyer in the transaction.

September 23, 2015

Massachusetts Northeast

Sperry Van Ness Enters Hotel Brokerage Business

by Amy Works September 23, 2015

BOSTON — Sperry Van Ness International Corp. has joined forces with Raleigh, N.C.-based Howard Perry and Walston Commercial and Hotel Group to launch SVN Hotels, a national hotel brokerage franchise. Headquartered in Raleigh the franchise will work with more than 25 advisors in more than 10 offices throughout the United States. SVN Hotels will specialize in working with owners and investors of all sizes from large institutions with multiple properties to private owners with single assets. Sanjay Mundra, who currently serves as CEO of HPW Commercial and Hotel Group, will serve as CEO of the SVN Hotels brand with Don Walston as chairman.

September 23, 2015

Loans Massachusetts Multifamily Northeast

CBRE/NE Arranges $7.5M Acquisition Loan for a Multifamily Property in Massachusetts

by Amy Works September 23, 2015

WEST ROXBURY, MASS. — CBRE/New England’s Multifamily Debt & Structured Finance group has arranged $7.5 million in acquisition financing for a multifamily property located at 218 and 250 Spring St. in West Roxbury. An affiliate of Yee Enterprises acquired the two-building, 55-unit property for $9.4 million. Constructed in 1968, the property is 100 percent market-rate apartments with a mix of studio, one-bedroom and two-bedroom units. John Kelly and Sam Dylag of CBRE/NE secured the financing through a local bank on behalf of the buyer. The name of the seller was not released.

September 23, 2015

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