Massachusetts

HFF Arranges $41.8M in Financing for Multifamily Property in Massachusetts

by Amy Works September 22, 2015

NORTON, MASS. — Holliday Fenoglio Fowler (HFF) has arranged $41.8 million in financing for a multifamily development in Norton. The borrower was a joint venture between Campanelli and Thorndike Development. HFF secured a $25 million construction loan through First Niagara Bank and a $16.8 million mezzanine loan through Cornerstone Real Estate Advisers on behalf of an institutional client. Slated for completion in 2016, 274 East Main St. will feature 188 apartment units, sidewalks, tree lined-streets and public spaces. In late 2014, HFF also secured $60 million in financing for One Upland, a 262-unit apartment community in Norwood, Mass., slated to open in October, for the joint venture. Greg LaBine and Patrick McAneny of HFF represented the borrower in both transactions.

September 22, 2015

Massachusetts Multifamily Northeast Seniors Housing

Brendon Properties Acquires 28.7-Acre Marist Center for Seniors Housing Project

by Amy Works September 22, 2015

FRAMINGHAM, MASS. — Brendon Properties has acquired Marist House Retreat Center at 518 Pleasant St. in Framingham. Marist Fathers of Boston sold the two-building property, which totals 50,077 square feet, for $4 million. The buyer plans to redevelop the 28.7-acre property into a seniors housing townhome community. The property includes a 45,000-square-foot, 70-bed former seminarian residence, a chapel, support space and administration offices. Robert Cronin and Kevin Brawley of Colliers arranged the transaction. Brendon Properties is a builder of age-restricted developments in the MetroWest region.

September 22, 2015

Massachusetts Multifamily Northeast

Prudential Real Estate Investors Buys Residential Tower in Cambridge

by Amy Works September 17, 2015

CAMBRIDGE, MASS. — Prudential Real Estate Investors has acquired Twenty|20, a newly developed residential tower in Cambridge. Canyon Partners Real Estate LLC, through its Canyon-Johnson Urban Funds, sold the property for an undisclosed price. Built to LEED Silver specifications, the 335-unit apartment tower is part of the NorthPoint development site, a 42-acre master-planned development project transforming a former rail yard into a mixed-use, transit-oriented community. Apartments include high-end finishes, energy-efficient appliances and oversized windows. Common area amenities include a rooftop terrace with panoramic views, a 3,000-square-foot fitness center and yoga sundeck, an open-air courtyard and an indoor basketball court.

September 17, 2015

Massachusetts Northeast Office

The Winhall Companies Acquires Two Liberty Square in Boston

by Amy Works September 17, 2015

BOSTON — An affiliate of The Winhall Companies has acquired Two Liberty Square, a 67,609-square-foot office building in Boston. Originally constructed in 1913, the 11-story, Beaux Arts-style building is 82 percent occupied by tenants that include Zipcar, Humana, Arthur J. Gallagher & Co., Copyright Clearance Center and Brill. CenterSquare Investment Management, on behalf of one of its institutional clients, sold the property for an undisclosed price. Coleman Benedict and Ben Sayles of HFF represented the seller in the sale. Additionally, Lauren O’Neil of HFF arranged a 10-year, fixed-rate acquisition loan through SunLife for the buyer.

September 17, 2015

Loans Massachusetts Northeast Office

HFF Closes $7M Sale, $4.7M Financing for Office Building in Massachusetts

by Amy Works September 14, 2015

DEDHAM, MASS. — Holliday Fenoglio Fowler (HFF) has brokered the $7 million sale and arranged $4.7 million in acquisition financing for a 39,391-square-foot office building located at 20 Carematrix Drive in Dedham. Coleman Benedict and Ben Sayles of HFF represented the seller, an affiliate of The Bulfinch Companies Inc. Lauren O’Neil, also of HFF, led the debt placement team that arranged the acquisition financing for the buyer, an affiliate of NorthBridge CRE Advisors. The financing was arranged through Country Bank.

September 14, 2015

Loans Massachusetts New Jersey Northeast Office

HFF Arranges $83.4M Refinancing for 14-Building Office Portfolio

by Amy Works September 11, 2015

WARREN AND BRIDGEWATER, N.J., AND WESTBOROUGH AND MARLBOROUGH, MASS. — HFF has arranged $83.4 million in refinancing for a portfolio of office assets totaling 14 buildings and 946,374 square feet in New Jersey and Massachusetts. HFF secured the floating-rate loan through JP Morgan Chase & Co. and Rialto Capital for the borrower, Normandy Real Estate Partners. The properties are a two-building, 228,393-square-foot asset at 20 and 25 Independence Blvd. in Warren; a 40,565-square-foot building at 999 Frontier Road in Bridgewater; the four-building, 105,500-square-foot Flanders Business Park in Westborough; and the seven-building, 571,916-square-foot Marlborough Technology Park in Marlborough. Jon Mikula, Riaz Cassum and Porter Terry of HFF represented the borrower in the financing transaction.

September 11, 2015

Industrial Massachusetts Northeast

Liberty Properties Adds New Tenant at New Bond Business Park

by Amy Works September 10, 2015

WORCESTER, MASS. — Liberty Properties has executed a 74,000-square-foot lease with A. Schulman Inc. at New Bond Business Park at 10 New Bond St. in Worcester. The international supplier of high-performance plastic compounds and resins will use the facility as a warehouse supporting its primary operation located on Millbrook Street in Worcester. The building is in the process of undergoing a complete renovation of the existing 225,000 square feet of remaining space. The renovation includes new HVAC systems, roof, flooring and façade, as well as renovated loading areas. Construction is underway, with phased occupancy beginning in September 2015. James Umphrey and David Cohen of Kelleher & Sadowsky Associates represented both the landlord and tenant in the transaction.

September 10, 2015

Industrial Massachusetts Northeast

China Railway Rolling Stock Corp. Breaks Ground on 200,000 SF Facility

by Amy Works September 9, 2015

SPRINGFIELD, MASS. — China Railway Rolling Stock Corp. has broken ground on its 200,000-square-foot facility in Springfield. Situated on 40 acres, the $60 million facility will be used to manufacture 284 subway cars for the Massachusetts Bay Transportation Authority (MBTA). MBTA awarded the China-based company a $566 million contract to supply care for Boston’s Red and Orange subway. The company purchased the former Westinghouse-owned land for $12 million. China Railway Rolling Stock Corp. was recently formed through a merger between China North Locomotive and Rolling Stock Industry Corp. and the China South Locomotive and Rolling Stock Corp. The company plans to begin production next year and deliver its first cars in 2018.

September 9, 2015

Massachusetts Northeast Office

Localytics Inks 55,000 SF Office Lease at Center Plaza in Boston

by Amy Works September 9, 2015

BOSTON — Localytics, a lifecycle engagement platform for web and mobile applications, has leased 55,000 square feet of office space at Center Plaza in Boston. The company will move into the space in March 2016, relocating from 101 Arch St. in Boston. Center Plaza is a 717,128-square-foot mixed-use complex featuring a 900-foot retail promenade along Cambridge Street, a 575-car parking garage and access to public transit, including the Red, Green and Blue lines. The property will soon undergo a capital improvement program, including new office amenities such as a bike room, conference center and renovations to the street-level interior lobbies, exterior walkway/breezeway areas and rooftop. Boston-based CBT Architects is providing architectural services for the enhancement program. Andy Hoar, John Butterworth, Kevin Kennedy and Suzanne Brown of CBRE/New England represented the landlord, Shorenstein Properties, while Greg Hoffmeister and Jon Frisch of T3 Advisors represented the tenant in the transaction. has a capital improvement program

September 9, 2015

Loans Massachusetts Multifamily Northeast

Fantini & Gorga Arranges $2.7M Loan for Three-Building Multifamily Property

by Amy Works September 4, 2015

LOWELL, MASS. — Fantini & Gorga has arranged $2.7 million in permanent financing for Embassy House Apartments in Lowell. The three-building property features 36 one- and two-bedroom market-rate apartments. Originally built in the early 1960s, the property underwent an extensive exterior/interior and building systems upgrade in 2003. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.

September 4, 2015

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