Guilford, CT According to the
Financial Times, the capital markets are awash in money looking for access to private lending. Michael Mackenzie and Eric Platt reported in October 2020 that there are 520 asset managers, including blue-bloods like Goldman Sachs
Lowell, MA SVN | Parsons Commercial Group | Boston has completed the sale of a 33,000 s/f two-story building on 1.04 acres at 81 Bridge St. for $2.57 million. Senior real estate advisors, Marci Alvarado and Jake Parsons of SVN| Parsons represented the seller, Bridge Street Business Center, LLC and procured the buyer, Mill Bridge Residential, LLC.
Boston, MA JLL Capital Markets has arranged the $12.25 million sale and acquisition financing for a 26,500 s/f, fully leased, last-mile industrial property with ample delivery truck and van parking at 202 Southampton St. in the Newmarket District near downtown.
Wilbraham, MA Paul Bongiorni of SR Commercial Realty was the sole agent in the sale of a mill-style industrial property at 176 Cottage Ave. The property was formerly the Collins Manufacturing Company, which once produced paper for writing and currency. More recently, it was home to a plastics manufacturing company and other small businesses.
Manchester, NH North Branch Construction has begun work on renovations to two properties in the city owned by Families in Transition-New Horizons (FIT-NH). The renovations, made possible by funds received through the CARES Act, will allow FIT-NH to respond more effectively to operational limitations due to the COVID-19 pandemic and provide assistance for food insecurity and homelessness in the future.
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here’s what not to do:
1. Miss the 45-Day Identification Deadline: Upon closing on relinquished property, you have 45 days to identify in writing what you intend to acquire in the exchange.
Brockton, MA A settlement has been reached on a court challenge that was holding up redevelopment of the historic Brockton Furniture Building, clearing the way for 55 new apartments in a transforming downtown neighborhood, according to mayor Robert Sullivan.
Waltham, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of two, four-unit multifamily buildings for $2.587 million. The property at 177-181 Robbins St. sold for $1.3 million ($325,000 per unit) and 221-223 Brown St. sold for $1.287 million ($321,750 per unit).
Devens, MA King Street Properties, one of the largest owners of lab space in the U.S., has launched a new initiative named Pathway which will provide life science tenants with customizable, flexible, biomanufacturing space. The launch came at a project kickoff ceremony which included elected officials and the CEO of MassDevelopment.
Danvers, MA Nordlund Associates, Inc. negotiated the $392,500 sale of 100 Conifer Hill Dr., suites 305-306. The asset consists of a 2,550 s/f office condominium. Nordlund represented the seller, Castagna Real Estate Development LLC, and the buyer, R.C Griffin, Inc., in the negotiation.
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