MEDWAY, MASS. — Toll Brothers has completed Hathon, a 190-unit apartment complex in Medway, located southwest of Boston. Designed by Boston-based Cube3 Architects with interiors by Chicago-based Mary Cook Associates, Hathon offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Select units offer private balconies/patios. Amenities include a pool, game room, fitness center, playground, catering kitchen, coworking lounge and a rooftop deck. Rents start at $2,450 per month for a one-bedroom apartment.
SANDWICH, MASS. — MassHousing has provided $6.2 million in financing for Shawme Heights Apartments, a 44-unit affordable seniors housing complex located in the Cape Cod town of Sandwich. The borrower, nonprofit owner-operator Sandwich Senior Housing Corp., will use the proceeds to refinance existing debt and fund capital improvements. Specific upgrades will target unit interiors, building exteriors, elevators, common areas and building systems like security, backup electricity and medical alert.
BOSTON — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 53-bed skilled nursing facility located just south of downtown Boston. The building was originally constructed in 1960, spans over 18,000 square feet and features a variety of unit configurations. The buyer was an undisclosed family office that intends to convert the property into traditional multifamily housing. Details on the seller and sales price were not disclosed. Kyle Hallion and Michael Segal led the Blueprint team on the transaction.
MARLBOROUGH, MASS. — Atlanta-based developer Wood Partners has broken ground on Alta French Hill, a 276-unit apartment complex that will be located in the western Boston suburb of Marlborough. Units will come in one, two- and three-bedroom floor plans and will be furnished with stainless steel appliances, quartz countertops, wood-style flooring and individual washers and dryers. Amenities will include a pool, fitness center, dog park, resident lounge and outdoor grilling and dining areas. Alta French Hill will also house 10,000 square feet of retail space. Preleasing will begin in 2024, with the first move-ins scheduled to begin in February 2025.
CAMBRIDGE, MASS. — Norges Bank Investment Management has signed an agreement to acquire a 45 percent interest in two life sciences properties in Cambridge’s Kendall Square neighborhood, just across the Charles River from Boston. BXP (NYSE: BXP) was the seller. The transaction includes 290 Binney Street, a 16-story, 570,000-square-foot property currently under construction. It is fully preleased to AstraZeneca, which expects to take occupancy in April 2026. The other property is 300 Binney Street, a six-story facility undergoing redevelopment. The Broad Institute has preleased the 240,000-square-foot building and plans to take occupancy in January 2025. Norges acquired the interest for an initial payment of $212.9 million and has committed to a total project cost of $746.4 million. Upon completion, the total value of the two buildings is projected to be $1.6 billion. The assets are unencumbered by debt, and no financing was involved in the transaction. BXP will retain the remaining 55 percent interest in the assets and will manage the properties on behalf of the partnership. Cambridge is among the largest hub of life sciences properties in the United States. The home of both Harvard University and Massachusetts Institute of Technology (MIT), the city hosts a slew of major …
GARDNER, MASS. — JLL has brokered the $9.6 million sale-leaseback of a 113,000-square-foot industrial building in Gardner, located about 65 miles northwest of Boston. Built in 1959 and expanded in 2004, the building features six dock doors and a clear height of 30 feet. Lenny Pierce and David Coffman of JLL represented the tenant, food packaging company Garlock Flexibles, which will retain occupancy on a long-term basis, in the transaction. The buyer was Philadelphia-based Valley Forge Private Equity.
WILMINGTON, MASS. — Boston-based mortgage banking firm EagleBridge Capital has arranged a $30 million loan for the refinancing of a 211,400-square-foot flex property in Wilmington, about 15 miles north of the state capital. The two-story buildings at 181 and 187 Ballardvale St. sit on a combined 15.4 acres and house a mix of office and research and development space. Ted Sidel of EagleBridge arranged the debt. The borrower and direct lender were not disclosed. The complex was 95 percent leased to 17 tenants at the time of the loan closing.
MIDDLEBOROUGH, MASS. — JLL has brokered the sale of the 100-room Fairfield Inn & Suites Raynham Middleborough/Plymouth hotel in southern Massachusetts. The hotel sits on 2.4 acres at 4 Chalet Road and offers amenities such as a fitness center, business center and a lobby market. The property also underwent a $3.3 million capital improvement program in 2018. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the seller, JNR, in the transaction. Additional terms of sale were not disclosed.
WAREHAM, MASS. — Regional brokerage firm Horvath & Tremblay has negotiated the $7.6 million sale of three retail pad sites in Wareham, located south of Boston at the base of Cape Cod. The sites are home to Starbucks, U.S. Air National Guard, Aspen Dental, Chipotle Mexican Grill, Crumbl Cookies and Wareham Animal Hospital. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the undisclosed seller in the transaction. The buyer was also not disclosed.
BOSTON — New York City-based real estate giant Tishman Speyer has broken ground on Phase I of Enterprise Research Campus, a 900,000-square-foot mixed-use project that will be located in the Allston neighborhood of Boston. The nine-acre site is adjacent to the Harvard Business School and Harvard Science & Engineering Complex in Allston. New York City-based Otera Capital led a syndicate of lenders that provided $750 million in construction financing for the project earlier this year. Phase I of the development will consist of two life sciences buildings totaling 440,000 square feet, a 343-unit apartment complex and a hotel, all of which will be developed on a nine-acre parcel. Within the multifamily component, 25 percent of the units will be designated as affordable housing for households earning between 30 and 100 percent of the area median income. Tishman Speyer will also develop, on Harvard University’s behalf, the mass-timber David Rubenstein Treehouse to serve as a campus-wide conference facility. Turner Construction is partnering with Janey Construction Management and J&J Contractors to build the life sciences portion of the project. A partnership between Consigli Construction and Smoot Construction is building the multifamily and hotel portions of the development. At full build-out, Enterprise Research …