BOSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged $18.7 million in financing across three loans for a trio of multifamily properties in Boston. The properties include the 31-unit Heywood Apartments in Worcester, the 36-unit Eames Apartments in Framingham, a western suburb of Boston, and the 29-unit Summer Street Apartments in Waltham, also located west of the state capital. All three loans carried 6.5 percent interest rates. Robert Damigella of MMCC arranged the loans. The direct lenders and borrowers were not disclosed.
GROTON, MASS. — Gilbane Building Co. has completed the Florence Roche Elementary School in Groton, located northwest of Boston. The 110,000-square-foot academic facility serves 645 students in grades kindergarten through fourth and features a dedicated project area that offers opportunities for breakout spaces and a zone for non-classroom-based activities. In addition, the school features a media center, STEM lab with an outdoor patio, spaces for music and art and a theater area, as well as advanced security and energy-efficient utility systems.
BELMONT, MASS. — The Hamilton Co., a privately held real estate investment and management firm based in Boston, has acquired Hill Estates, a 396-unit apartment community in Belmont. The original developer, the DiGiovanni family, sold the market-rate community for $175 million. Built by the DiGiovanni brothers — Silvio, Rocco, Joseph and Charles — in the 1960s, Hill Estates had been owned and managed by the family since its inception and hit the market for the first time as part of this transaction. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the DiGiovanni family and procured The Hamilton Co. in the transaction. KeyBank Real Estate Capital provided an undisclosed amount of acquisition financing. “For over 50 years, the DiGiovanni family had been great stewards of this legacy asset in one of the most desirable towns in the Boston metro,” says St. John. “While the DiGiovanni family has taken great care and pride in this asset, we anticipate that The Hamilton Co. will make substantial investments in the asset to modernize and amenitize the community.” Hill Estates is situated on a 14.7-acre site off Brighton Street in Belmont, which is located on the western border of Cambridge, …
TAUNTON AND HAVERHILL, MASS. — Regional owner-operator Marcus Partners has sold a portfolio of two industrial buildings totaling 192,380 square feet in metro Boston. The sales price was $50 million. The portfolio consists of an 88,000-square-foot facility in Taunton, located south of Boston, and a 104,380-square-foot structure in Haverhill, a northern suburb of the state capital. Both buildings were fully leased at the time of sale. Chris Skeffington of CBRE represented Marcus Partners in the transaction. The buyer was a fund backed by Ares Real Estate.
BOSTON — Related Beal, the Boston office of Related Cos., has topped out construction of Leiden Center II at Innovation Square, a 345,000-square-foot life sciences project in Boston. The 1.8-acre site is located within Raymond L. Flynn Marine Park in the Seaport District, and the seven-story building, which represents Phase III of the larger Innovation Square development, is fully preleased to Vertex Pharmaceuticals. A consortium of lenders consisting of Santander Bank, Ullico, LBBW and Washington Capital provided construction financing for the project, in which Basis Investment Group is an equity investor. Completion is slated for early 2027. The project is expected to generate as many as 700 construction jobs and approximately 500 permanent jobs for the city.
WILMINGTON, MASS. — JLL has arranged $92 million in financing for the three-building, 393,911-square-foot Fordham Park Robotic and Logistics Campus in the northern Boston suburb of Wilmington. The campus spans 40.1 acres and features high-bay research and development, robotics and distribution space. The park was fully leased at the time of sale to credit tenants in the e-commerce, warehouse automation/robotics and semiconductor equipment/industrial automation industries. Tom Sullivan led the JLL team that arranged the five-year loan through M&T Bank on behalf of the borrower, Carlisle Capital Corp.
MEDFORD, MASS. — Newmark has negotiated the $11.7 million sale of 101 Station Landing, a 160,482-square-foot office building located north of downtown Boston in Medford. The five-story, transit-oriented building includes a café, outdoor plazas and garage parking. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the seller, James Campbell Co., in the transaction. The team also procured the buyer, locally based investment firm RJK, which plans to implement capital improvements.
WESTBOROUGH, MASS. — CBRE has negotiated the sale of Parc Westborough, a 249-unit apartment complex located about 35 miles west of Boston. The property, which was constructed in 2016, consists of four residential buildings and a freestanding clubhouse. Residences feature one-, two- and three-bedroom floor plans and have an average size of 1,008 square feet. Amenities include a pool, fitness center and outdoor grilling and dining stations. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Utah-based Cottonwood Residential, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.
BOSTON — Nauset Construction has completed Phase II of The Conrad, a project in downtown Boston that is a multifamily conversion of the former Conrad & Chandler’s department store. Designed by Schopf Design Associates (Phase I) and Golden Architects (Phase II) and owned by 3MJ Realty, The Conrad comprises 36 residential units and 7,000 square feet of retail space. Phase II included constructing four one-bedroom and five two-bedroom units on the second floor, renovating the first-floor retail space; installing a new roofing system, upgrading the elevator cab and replacing existing windows.
AMESBURY, MASS. — Regional developer Marcus Partners has completed a 430,000-square-foot industrial project in Amesbury, located north of Boston, that is a build-to-suit for air conditioning contractor Munters. The eco-friendly facility houses Munters’ desiccant dehumidification products and services and other climate control solutions for the North American market. About 350 people can work at the facility, which includes spaces for manufacturing, research and development, sales, service and administration.