News: Finance

Herbst from AEW Management draws record crowd for REFA Gala

On Thursday, October 2, over 550 REFA members and guests gathered at the Westin Copley Place for the 26th Annual REFA Gala to honor Pam Herbst with AEW Capital Management as the recipient of the Robert S. Swain Jr. Distinguished Service Award. Herbst joined 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. Several past honorees attended the Gala - including John Fowler, HFF; George Fantini, Fantini & Gorga and Marci Griffith Loeber, Griffith Properties. This fall, REFA will hold many great events including an Industry Leaders Luncheon with Anthony Frammartino, principal of The Townsend Group on Tuesday, October 21 and a REFA Education Program on the Real Estate Market Outlook which will be held on Wednesday, November 12. The Real Estate Market Outlook program will feature a presentation by Mitch Roschelle, partner at PwC and Andy Warren, director, real estate research at PwC who will share highlights from the Emerging Trends publication of PwC and ULI. Interested in Joining REFA or learning more about REFA's events? Contact Maggie Collins at mcollins@gbreb.com For more information about the events and membership, please visit our website at www.refa.org. They have over 600 followers on Twitter! Join the conversation today @REFABoston
Tags: Finance
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Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT

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.
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Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

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
Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

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
Are appraisers on the same page as the assessor? - by Richard Seman

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.
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

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.