 (1).gif)
News:
Finance
Posted: March 13, 2008
Goedecke & Co. secures $10 million financing for 48,799 s/f One Davis Sq.
The Boston office of Goedecke & Co., LLC has recently secured permanent financing for One Davis Sq., a 48,799 s/f retail/office property centrally located in the Davis Sq./Tufts University section of the city.
Goedecke principals Shawn Herlihy and Christine Morrell worked exclusively on behalf of the borrower Kristopher Ogonowsky of Krisco Development, to structure the $10 million 25-year fully amortizing loan. The deal also features a 24-month forward commitment, and was funded by Genworth Life Insurance Company.
Herlihy said, "The One Davis Sq. deal was a unique transaction, not only did the borrower need a 25-year term, but also a 24-month forward commitment. Genworth was able to structure the perfect deal for the borrower."
One Davis Square features a new CVS on the first level, a new Boston Sports Club on the second floor, and 12,000 square feet of prime office space in the heart of Davis Square. The Davis Square Red line MBTA stop is located directly across from the property.
Tags:
Finance
MORE FROM Finance
Funding your project: Available, but expensive, in many ways - by Daniel Calano
How many of you remember real estate development in the late 1980s? Project sourcing was difficult, until it wasn’t. Into the 90’s, a few years after, banks and other financial institutions were very happy to fund projects.
 (1).gif)
Quick Hits
Columns and Thought Leadership
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
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 focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
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.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
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
Are appraisers on the same page as the assessor? - by Richard Seman
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.
