BOSTON — JLL has negotiated the sale of a 164-room Courtyard by Marriott hotel in South Boston. The six-story building was constructed in 2005 and offers a fitness center, business center, onsite restaurant, 625 square feet of meeting and event space and a 6,000-square-foot retail space. Alan Suzuki and Matthew Enright of JLL represented the seller, Pennsylvania-based Hersha Hospitality Trust, in the transaction. The buyer and sales price were not disclosed.
WALTHAM, MASS. — Veeco, a New York-based manufacturer of semiconductors and electronics, has signed a 16,506-square-foot life sciences lease at 130 Turner Street, a 270,000-square-foot facility located in the western Boston suburb of Waltham. Matt Malatesta, Mike Frisoli, Tyler McGrail, Margaret Fee and Eric Jeremiah of Newmark represented the landlord, Jumbo Capital, in the lease negotiations. Malatesta also represented the tenant.
TAUNTON, MASS. — Cushman & Wakefield has negotiated a 260,150-square-foot industrial lease in Taunton, located about 40 miles south of Boston. The tenant, Ferguson Plumbing Supply, will occupy space at Taunton Trade Center, a 584,640-square-foot speculative development. The newly built complex features a clear height of 40 feet, 112 loading docks, 546 car parking spaces and 132 trailer parking stalls. Philip Verre, Rob Byrne, Pete Whoriskey and Paul Leone of Cushman & Wakefield represented the landlord, Martignetti Cos., in the lease negotiations. CBRE represented the tenant.
MEDFORD, MASS. — MassHousing has provided $13.5 million in financing for Riverside Towers, a 199-unit affordable seniors housing complex in Medford, located north of Boston. Built in 1979, Riverside Towers consists of 161 one-bedroom and 38 two-bedroom units in a 14-story building. The borrower, a partnership between metro Boston-based Schochet Cos. and Jonathan Rose Cos., will use the proceeds to fund capital improvements, enhance resident services and preserve the property’s affordability status.
WORCESTER, MASS. — MassDevelopment has provided a $19.6 million tax-exempt bond for the construction of a mixed-income housing project in the central Massachusetts city of Worcester. The site at 120 Washington St. formerly housed the headquarters of Table Talk Pies, and the project is part of a larger redevelopment that will ultimately feature 400 residential units and 20,000 square feet of commercial space. Units will come in studio, one-, two- and three-bedroom formats. The borrower and developer, an affiliate of Boston Capital Development, will use the bond proceeds to construct 59 apartments, while the other 24 residences will be financed with Low-Income Housing Tax Credits and other subsidies. Eastern Bank and Rockland Trust purchased the bond. Construction is slated for a February 2024 completion.
WILMINGTON, MASS. — Locally based developer The Procopio Cos. has completed Lume, a 49-unit multifamily project in Wilmington, a northern suburb of Boston. The 74,000-square-foot, transit-served development consists of 39 garden-style apartments and 10 townhomes. Amenities include a fitness center, clubroom and a pet spa. DMS Design served as the project architect, with interiors by Conant Design Group. Rents start at $3,000 per month for a two-bedroom unit.
GARDNER, MASS. — Regional brokerage firm Northeast Private Client Group has negotiated the $2.3 million sale of a mixed-use property in Gardner, located in Massachusetts’ Worcester County. The property consists of 17 multifamily units, 12 retail spaces and seven office spaces. Tim McGeary of Northeast Private Client Group represented the buyer and seller, both of which requested anonymity, in the transaction.
CAMBRIDGE, MASS. — South Florida-based investment firm Benderson Development has purchased a 53,400-square-foot retail property located outside of Boston in Cambridge. The property at 340 River St. is located roughly one mile from Harvard University and the Massachusetts Institute of Technology and houses a 40,000-square-foot Whole Foods Market and a 13,000-square-foot Walgreens. The seller and sales price were not disclosed.
BOSTON — Cornerstone Realty Capital has arranged a $15.8 million loan for the refinancing of a 47-unit apartment complex in Boston’s Fenway neighborhood. Built in 1918 and most recently renovated in 2021, the four-story building houses studio, one-, two- and three-bedroom units. The loan was structured with a fixed interest rate and a 30-year amortization schedule. Paul Natalizio of Cornerstone arranged the debt on behalf of the undisclosed borrower. The building was fully leased at the time of the loan closing.
HYANNIS, MASS. — Linchris Hotel Corp., a Massachusetts-based hospitality owner-operator, has acquired the 266-room Cape Codder Resort & Spa in Hyannis. The resort houses four food-and-beverage concepts, a waterpark, fitness center, indoor and outdoor pools, a pickleball court and 18,000 square feet of meeting and event space. Alan Suzuki and Matthew Enright of JLL represented the seller, Catania Hospitality Group, in the transaction. Greg LaBine and Amy Lousararian, also with JLL, arranged acquisition financing through HarborOne Bank on behalf of the buyer.
