Real Estate Finance Association holds Charitable Golf Outing
The Annual REFA Charitable Golf Outing, benefiting Homestart and Project Hope, was held at the Blue Hills Country Club in Canton, on July 23rd. Over 120 golfers participated in the sold-out tournament. Congratulations to the winning foursome from Salem Five Bank for posting the lowest gross score of the tournament with a 67, good for five under par. Congratulations as well to the winning foursome from Newbanks for tallying the lowest net score with a 44, edging PNC Bank in a card-off. The day ended with a reception and awards dinner, where representatives and beneficiaries from Homestart and Project Hope had the chance to speak about their organizations and the impact they have on the community. On Wednesday, July 18th, the Emerging Leaders hosted a community service activity at the Greater Boston Food Bank. Members donated their time to volunteer as food sorters – which resulted in sorting 10,000 pounds of food which produces 8,000 meals for those in need. REFA’s Annual Summer Reception was held on August 1st at Goulston & Storrs’ private deck. It was an evening of networking over cocktails and hors d’oeuvres in front of one of Boston’s most spectacular views, the Boston Harbor. On Thursday, October 11th, The Real Estate Finance Association will hold its 24th Annual Gala honoring Joe Fallon, president and CEO of the Fallon Companies. The event will be held at the Sheraton Boston Hotel from 5:30 – 8:30 p.m. For more information, or to purchase tickets for the Gala, please visit our site at www.gbreb.com/refa/gala2012. For more information about upcoming events, visit www.refa.org.
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.
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.
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
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.