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Finance
Posted: September 12, 2007
J.M. Feeney arranged financing of $3.8m for the Heritage Building
John Feeney, principal of J.M. Feeney & Associates, has arranged permanent financing in the amount of $3.8 million for The Heritage Building, 1495 Hancock St. The Heritage Building is a four-story steel and masonry multi-tenant retail and office building. Originally constructed in 1920, the building was completely renovated in the early 1980s. Formerly the headquarters of The Bank of New England, the building is fully sprinklered and has two elevators. The gross building area is 41,990 s/f. The building's primary architectural features are its concrete aggregate facade which rises from a polished black marble base and its reflective plate glass along the front and rear of the property. The first floor is occupied by Alba Restaurant, a restaurant that opened in 2002.
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Quick Hits
Columns and Thought Leadership
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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
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