O’Neil and King of Holliday Fenoglio Fowler, LP secure $20 million financing for 130,000 s/f office park
Holliday Fenoglio Fowler, LP (HFF) has arranged $20 million in financing for Newton Wellesley Executive Office Park, a four-building, suburban office park totaling 130,000 s/f. HFF worked exclusively on behalf of Newton Wellesley Executive Office Park LLC, an affiliate of The Nelson Companies, to secure the 10-year, fixed-rate loan through Principal Global Investors. Newton Wellesley Executive Office Park is 100% leased overall to 25 tenants in the high technology, legal, financial, professional and personnel service industries. The properties are located at 40, 60, 62 and 70 Walnut St. near the intersection of Rte. 16 and Rte. 128/I-95, 13 miles west of downtown Boston. The HFF team representing the borrower was led by director Lauren O’Neil and senior real estate analyst Robyn King. HFF and HFF Securities LP (HFFS) are owned by HFF, Inc. HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. www.hfflp.com.
Boca Raton, FL C-Lounge Capital provides $18m equity investment for $40m acquisition of Fountains of Boca Raton by Interface Properties. C-Lounge Capital is a relationship-driven family office investment platform backed by more than 50 years of commercial real estate experience.
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
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
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.