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Massachusetts

Emblem-120-Woburn
LoansMassachusettsMultifamilyNortheast

Mesa West Capital Provides $81M Loan for Refinancing of Metro Boston Apartment Complex

by Taylor Williams

WOBURN, MASS. —Mesa West Capital has provided an $81 million loan for the refinancing of Emblem 120, a 289-unit apartment complex in the northern Boston suburb of Woburn. Developed by a joint venture between Toll Brothers and Carlyle Group in 2022, Emblem 120 rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a central courtyard, work-from-home space, rooftop terrace and lounge, pool with cabanas and a fitness center. The property also includes 9,390 square feet of street-level retail space. David Douvadjian, Timothy O’Donnell and David Douvadjian Jr. of Newmark arranged the debt through an undisclosed direct lender on behalf of the joint venture. 

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Manchester-by-the-Sea-Life-Sciences
AcquisitionsDevelopmentLife SciencesMassachusettsNortheast

Cell Signaling Technology Buys 50-Acre Site in Metro Boston, Plans Life Sciences Redevelopment

by Taylor Williams

MANCHESTER-BY-THE-SEA, MASS. — Massachusetts-based life sciences company Cell Signaling Technology has purchased a 50-acre site in Manchester-by-the-Sea, about 30 miles northeast of Boston, with plans to undertake a life sciences redevelopment. Designed by architecture firm HGA, the project will convert the site of an abandoned rock quarry into a research and innovation campus that will feature 250,000 square feet of space. Ten acres of the site are occupied by the Manchester Athletic Club. A construction timeline for the project, which will be developed in phases, is still being finalized.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

Beacon Communities Completes Renovation of 285-Unit Affordable Housing Complex in Boston

by Taylor Williams

BOSTON — Beacon Communities has completed the renovation of Lenox Apartments, a 285-unit affordable housing community in the South End/Lower Roxbury neighborhood of Boston. Lenox Apartments comprises 13 buildings and offers one-, two- and three-bedroom floor plans. According to Beacon Communities, the property was originally built in 1939 as the first public housing project in Boston dedicated to serving African Americans. The renovation was funded through a mix of state and federal housing and historic tax credits, as well as public and private loans.

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AcquisitionsMassachusettsMultifamilyNortheast

NEPCG Negotiates $8.4M Sale of Metro Boston Apartment Portfolio

by Taylor Williams

CHELSEA, MASS. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $8.4 million sale of a portfolio of six apartment buildings totaling 27 units in Chelsea, located on the southern outskirts of Boston. The buildings are situated across three contiguous parcels at 31-47 Louis St. Drew Kirkland, Francis Saenz and Jim Casey of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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800-Salem-St.-Wilmington-Massachusetts
DevelopmentIndustrialMassachusettsNortheast

Camber Development Breaks Ground on 237,800 SF Warehouse in Wilmington, Massachusetts

by Taylor Williams

WILMINGTON, MASS. — Boston-based Camber Development has broken ground on a 237,800-square-foot warehouse at 800 Salem St. in the northern Boston suburb of Wilmington. Designed by Dacon Corp., the building will feature a clear height of 36 feet, 47 dock positions and parking for 332 cars and 33 trailers. Camber is developing the project in partnership between Connecticut-based Wheelock Street Capital. JLL arranged construction financing for the project, which is expected to be complete before the end of the year.

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AcquisitionsMassachusettsNortheastOffice

Newmark Arranges Sale of 221,474 SF Office Building Near Downtown Boston

by Taylor Williams

BOSTON — Newmark has arranged the sale of 179 Lincoln Street, a 221,474-square-foot office building near downtown Boston. The newly renovated building offers proximity to Boston’s South Station transit hub. Robert Griffin, Edward Maher, David Douvadjian Sr., Matthew Pullen, James Tribble, Timothy O’Donnell, Samantha Hallowell and William Sleeper of Newmark represented the undisclosed seller in the transaction. The team also procured the buyer, locally based investment firm Synergy, which assumed $76.5 million of the seller’s outstanding debt on the property.

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Eagle-Mill-Lee-Massachusetts
Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

MassHousing Provides $5.8M for Affordable Housing Redevelopment in Lee, Massachusetts

by Taylor Williams

LEE, MASS. — MassHousing has provided $5.8 million in financing for an affordable housing redevelopment project in the western Massachusetts city of Lee. The project will convert the two historic former Eagle Mill buildings, which were originally constructed in 1808 and closed in 2008, into a 56-unit complex with commercial space. Units will feature a range of floor plans and income restrictions. The developer is a partnership between Rees-Larkin Development LLC and Berkshire Housing Development Corp.

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DevelopmentIndustrialMassachusettsNortheast

WinStanley, NorthPoint to Develop 524,000 SF Industrial Project in Westfield, Massachusetts

by Taylor Williams

WESTFIELD, MASS. — A partnership between two developers, Massachusetts-based WinStanley Enterprises and Kansas City-based NorthPoint Development, will build a 524,000-square-foot industrial project in Westfield, located outside of Springfield in the western part of Massachusetts. The 126-acre site of the project, which will be known as Falcon Landing, is adjacent to Westfield-Barnes Regional Airport and can support parking for 362 cars and 322 trailers. Infrastructural improvements to the site are underway, and a precise construction timeline is still being finalized.

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124-Westboro-Road-Grafton-Massachusetts
DevelopmentIndustrialLife SciencesMassachusettsNortheast

GFI Partners to Undertake 200,000 SF Life Sciences Redevelopment in Grafton, Massachusetts

by Taylor Williams

GRAFTON, MASS. — GFI Partners will undertake a 200,000-square-foot life sciences redevelopment project in Grafton, located in Worcester County. The Boston-based developer will convert a 33.2-acre site that was formerly part of the Grafton State Hospital campus into a two-building facility that can also support industrial usage under local zoning laws. MassDevelopment sold the parcel to GFI Partners for an undisclosed price. Construction is set to begin this summer and to be complete in early 2026.

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IndustrialLeasing ActivityMassachusettsNortheast

JLL Negotiates 111,119 SF Industrial Lease in Wilmington, Massachusetts

by Taylor Williams

WILMINGTON, MASS. — JLL has negotiated a 111,119-square-foot industrial lease at Upton Crossing in the northern Boston suburb of Wilmington. The lease is for the entirety of the building at 38 Upton Drive, which features a clear height of 32 feet. Joe Fabiano, Jamey Lipscomb, Jordan Yarboro and Brian Tisbert of JLL represented the landlord, locally based developer The Davis Cos., in the lease negotiations. Rachel Marks and Chelsea Andre, also with JLL, represented the tenant, an undisclosed provider of medical devices and equipment.

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