REBusinessOnline

Ziegler Arranges $67.1M Bond Financing for 294-Unit CCRC in Vermont

SHELBURNE, VT. — Ziegler, a specialty investment bank, has arranged $67.1 million in bond financing for Wake Robin, a continuing care retirement community in Shelburne, located along Lake Champlain just south of Burlington.The community is situated on 136 acres and feature 212 independent living units, 31 assisted living units and 51 skilled nursing units. The nonprofit Wake Robin Corp. was incorporated in 1984 to develop, own and operate the community. It was the first CCRC in …

Norwich Properties Sells 108-Suite Extended-Stay Hotel in Colchester, Vermont

COLCHESTER, VT. — Norwich Properties has completed the disposition of Residence Inn Burlington Colchester, an extended-stay hotel located in Colchester. AAM 15 Management acquired the 108-suite property for an undisclosed price. Completed in 2010, the hotel features suites with fully equipped kitchens, an indoor swimming pool and soaking tub, a fitness facility, a business center, a sundries shop, a barbecue and picnic area, complimentary hot breakfast and the Residence Inn Mix, evening …

Rouse Properties, Devonwood Investors to Redevelop Burlington Town Center in Vermont

BURLINGTON, VT. — Rouse Properties has formed a joint venture with Devonwood Investors LLC, owner of Burlington Town Center, to redevelop the retail property into a mixed-use development with apartments, retail, restaurants and offices. The joint venture is expected to close on the property in the next few weeks and will then begin construction on the project, which is expected to cost $225 million. HFF’s Porter Terry arranged the redevelopment financing. The project has received zoning …

Wason Associates Negotiates Sale of Palmer House Resort, Best Western Plus in Vermont

BENNINGTON & MANCHESTER, VT. – Wason Associates Hospitality Real Estate Brokerage Group (Wason Associates) has negotiated the sale of the Best Western Plus in Bennington and the Palmer House Resort in Manchester. The Best Western Plus is located near Bennington College and several ski resorts. S.K.B.W.V. Acquisition LLC LL acquired the Best Western Plus for $3.8 million. The hotel includes 58 recently renovated rooms and an owner/property manager residence. The Palmer House Resort is …

Battell Block Partners Acquires 68,200 SF Office, Apartment Building in Vermont

MIDDLEBURY, VT. — Battell Block Partners has acquired the historic Battell Block building, which houses office and residential apartment space, located at 10 Merchants Row in downtown Middlebury for an undisclosed price. The seller was Battell LLC. Commercial tenants at the property include Community College of Vermont, Edgewater Gallery, Sabai Sabai, Carol’s Hungry Mind Café and Middlebury College’s restaurant 51 Main. The buyer intends to redevelop parts of the building. The buyer is …

Nedde Real Estate Facilitates Sale of 6,000 SF Office Building in Vermont

ST. ALBANS CITY, VT. — Nedde Real Estate has arranged the sale of an office building located at 242 S. Main St. in St. Albans City. BAART purchased the 6,000-square-foot Knights of Columbus building from Vermont Club Home Association for an undisclosed price. Grant Butterfield of Nedde Real Estate arranged the

Nedde Real Estate Arranges Acquisition of 12-Unit Apartment Building in Colchester, Vermont

COLCHESTER, VT. — Nedde Real Estate has brokered the purchase of a multifamily property located at 961-967 Mill Pond Road in Colchester. Jeff Peck of Peck Investment Properties acquired the 12-unit apartment building from RMPR LLC for an undisclosed price. Grant Butterfield of Nedde Real Estate represented the buyer, while Steve Donahue of Donahue & Associates represented the seller in the

Nedde Real Estate Arranges 5,808 SF Office Lease in South Burlington, Vermont

SOUTH BURLINGTON, VT. — Nedde Real Estate has brokered the lease of 5,808 square feet office at 1891 Williston Road in South Burlington. The tenant, Ideas Well Done, will move into the space in early December. Fernando Cresta and Doug Nedde of Nedde Real Estate co-own the property. Meg McGovern of Donahue & Associates represented the tenant in the

Nedde Real Estate Brokers Office Lease in Shelburne, Vermont

SHELBURNE, VT. — Nedde Real Estate has arranged an office lease at 181 Falls Road in Shelburne. NorthEast Estates and Trusts PLLC and Law Office of Richard J. Fox will occupy 955 square feet at the property. The lease will begin in January 2017 and expire in two years. Fernando Cresta of Nedde Real Estate arranged the lease transaction. The landlord is LaPlatte

Addison County Community Trust, Cathedral Square Corp. Open Net-Zero Affordable Housing Development in Vermont

WALTHAM, VT. — Development partners Addison County Community Trust and Cathedral Square Corp. have redeveloped a formerly unoccupied manufactured home park in Waltham into McKnight Lane, Vermont’s first net-zero affordable housing community. The $3.6 million community features 15 net-zero energy homes configured into seven duplexes with 12 two-bedroom layouts and two three-bedroom layouts. The homes are available for households with incomes at or below 50 percent and 60 percent of the area …

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