BOSTON — MassDevelopment has provided $21.8 million in tax-exempt bond financing for a 63-unit affordable housing project that will be located in Boston’s Hyde Park neighborhood. The property will consist entirely of one-bedroom units that will be reserved for households earning 30, 50 or 60 percent or less of the area median income. The borrower and developer is an affiliate of B’nai B’rith Housing of New England. Eastern Bank purchased the bond. The Massachusetts Executive Office of Housing & Livable Communities also provided $16.1 million in tax credit equity for the project.
BURLINGTON, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Middlesex Marketplace, a 38,243-square-foot shopping center in Burlington, a northern suburb of Boston. Built in 2013, the property was 89 percent leased at the time of sale to tenants such as Smith & Wollensky, Visionworks, Ideal Image and AFC Urgent Care. Justin Smith, Chris Peterson and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CHESTNUT HILL, MASS. — Regional brokerage firm Atlantic Capital Partners has arranged the $41 million sale of The Landing at Chestnut Hill, an office campus located about six miles south of downtown Boston. The Landing at Chestnut Hill comprises four buildings totaling 117,641 square feet on a 5.3-acre site. Justin Smith, Sean Gildea, David Smookler, Chris Peterson and Danielle Donovan of Atlantic Capital Partners represented the undisclosed seller in the transaction. The team also procured the buyer, City Realty, which plans to redevelop the property to feature a mix of uses.
DEVENS, MASS. — Locally based developer King Street Properties has received an undisclosed amount of construction financing for a 210,000-square-foot advanced manufacturing project that will be located in the northwestern Boston suburb of Devens. The building at 75 Jackson Road will be the fourth such structure on the 700,000-square-foot Pathway Devens campus. Preliminary sitework is underway, and completion is slated for the third quarter of 2025. First Citizens Bank and Berkshire Bank provided the financing. The project team includes general contractor BW Kennedy, Vivo Architecture and Highpoint Engineering.
REVERE, MASS. — Regional developer Redgate is underway on construction of Gibson Point, a 291-unit apartment community in the Boston suburb of Revere. Gibson Point will offer studio, one-, two- and three-bedroom units. Amenities will include a fitness studio, sauna and cold plunge pools, recovery room, private coworking areas and a lounge with an indoor/outdoor bar, deck and fully equipped kitchen. The property will also feature an onsite restaurant and immediate access to the nearby Gibson Park. Preleasing will begin on June 1, with the first move-ins commencing in September.
BURLINGTON, MASS. — Bob’s Discount Furniture has opened a 43,000-square-foot store and showroom at 3 Abbott Park in Burlington, a northwestern suburb of Boston. The space will house furniture with smart technology features, as well as with multipurpose functionalities and furniture that promotes wellness. Based in Manchester, Conn., Bob’s operates about 170 stores across 24 states.
MALDEN, MASS. — The DSF Group, an investment firm with offices in Boston and Washington D.C., has sold Halstead Malden Square, a 195-unit apartment complex located on the northern outskirts of Boston. Built in 2015, the six-story, market-rate building houses studio, one- and two-bedroom units and amenities such as a pool, fitness center, golf simulator, game room, bocce ball court and outdoor grilling and dining stations. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented DSF Group in the transaction. The team also procured the buyer, an entity advised by Nuveen Real Estate.
BOSTON — Locally based development and investment firm The Davis Cos. has begun leasing Hew at 1515, a 150-unit apartment building in Boston’s Brighton neighborhood. Designed by RODE Architects, the seven-story building is part of a larger complex at 1515 Commonwealth Ave. that includes a 102-unit condo building. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a clubroom with a catering kitchen, fitness center, rooftop terrace and bar, coworking spaces, a multi-sport simulator and a pet spa. The first move-ins will begin this summer. Rents start at $2,770 per month for a studio apartment.
WRENTHAM, MASS. — Simon Property Group has welcomed five new tenants to Wrentham Village Premium Outlets on the southwestern outskirts of Boston. Pottery Barn opened earlier this month at the property, which is also home to sister brand West Elm Outlet. Apparel retailers OFFLINE by Aerie, Hollister Co. and Gilly Hicks have also signed leases at the development. OFFLINE by Aerie will open this summer, and Hollister Co. and Gilly Hicks are scheduled to open this fall. Additionally, Shake Shack will debut a new restaurant before the end of the year.
PEABODY, MASS. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the Hampton Inn and Homewood Suites Boston Peabody, two adjacent properties totaling 205 rooms that are located on the northeastern outskirts of Boston. Spencer Davidson and Sophia Pittaluga of Hunter Hotel Advisors represented the seller, an undisclosed institutional investment firm, in the transaction. The buyers were both affiliates of regional owner-operator Giri Hotel Management. The sales price was not disclosed.