 (1).gif)
News:
Finance
Posted: July 10, 2020
JLL secures $66 million for acquisition of a 531,916 s/f office campus - loan placed through Brookline Bank
Marlborough, MA JLL Capital Markets has arranged $66 million debt and equity financing for The Campus at Marlborough, a premier, four-building office campus totaling 531,916 s/f.
Greatland Realty Partners and Breed’s Hill Capital engaged JLL to advise them on their joint venture partnership and to secure the seven-year, fixed-rate acquisition loan through Brookline Bank.
The JLL Capital Markets team representing the borrower was led by senior managing director Lauren O’Neil and directors Andrew Gray and Henry Schaffer.
“Greatland and Breed’s Hill were determined in their efforts to get this deal over the goal line, despite the challenges presented by the COVID public health crisis” said O’Neil. “All parties involved were dedicated to the successful outcome and it is that kind of teamwork and perseverance that gets transactions done in a market like this.”
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.
