10-02-2014 - REFA to honor Pam Herbst at REFA Gala
The Real Estate Finance Association (REFA) informed their membership last month that Pamela Herbst, managing director and head of the direct investment group at AEW Capital Management will be the recipient of the Robert S. Swain Jr. Distinguished Service Award at the Annual REFA Gala, to be held October 2nd at Westin Copley Place.
Herbst will join an elite list in the real estate community of past recipients; most recently mayor Thomas Menino in 2013, Joe Fallon of the Fallon Company in 2012, Thomas Hynes of Colliers International in 2011, and Thomas DeSimone of WS Development in 2010. REFA has also recognized three families over the course of the award's history.
The distinguished service award is named in honor of the late Robert S. Swain, Jr. Swain gained respect and admiration of his colleagues within the real estate finance industry during his 33-year career in the profession. He was a valued member of the Greater Boston Real Estate Board for over 25 years and was an active member and leader of the Mortgage Finance Committee, which eventually developed into the present Real Estate Finance Association.
The REFA Gala, which perennially attracts over 500 real estate professionals, has long been a celebration of the organizations accomplishments, as well as recognizing an individual who has made significant contributions to the real estate industry as well as the community.
For more information about the Annual REFA Gala, please visit our website at www.refa.org.
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property