Section 1031 tax-deferred exchanges continue to be a popular tax-deferral strategy for business owners and taxpayers not only throughout the New England states, but nationally for those who want to accomplish a wide range of business and/or investment objectives including some of the following:
Thinking of selling a commercial property, a multifamily or other investment property and buying a retirement home or a second home in the mountains or where the weather is warmer? With a little 1031 tax-deferred planning, you could be retiring to a home in a destination of your choice by deferring and/or excluding all or most of your capital gains taxes.
Bedford, MA MassDevelopment has issued a $5.928 million tax-exempt bond on behalf of Walnut Street Center, Inc. and its affiliate Community Alternative Residential Environments, Inc. The organizations will use bond proceeds to buy and renovate 4-6 Alfred Circle, a 17,500 s/f building
Fairfield, CT Cronheim Mortgage has secured $5.5 million for the refinancing of the Fairfield Shopping Center, a 72,000 s/f neighborhood retail property. Andrew Stewart, Dev Morris, and Allison Villamagna placed the financing with a portfolio lender on behalf of Albert D. Phelps, Inc.
Weymouth, MA Cela Development Inc. has secured $6.34 million in financing from Rockland Trust for the construction of a mixed-use property on Bridge St. The property spans three floors totaling 31,000 s/f with the ground level designated for retail space.
Hartford, CT JLL Capital Markets has secured $27.3 million in financing for a two-building industrial portfolio spanning over 315,000 s/f in Central Mass. and Greater Hartford, Conn.
Worcester, MA Marc Tropp, a senior managing director with Eastern Union, has secured $13.297 million in financing toward the ground-up construction of a four-story, 931-unit, self-storage facility at 80 Barber Ave.
Worcester, MA According to Rockland Trust, Peter Staiti has been promoted to the position of senior vice president, regional executive for commercial banking. In this new role, Staiti will be responsible for leading and managing a team of experienced commercial banking professionals across Worcester County and Central Massachusetts.
Newton, MA According to Joseph A. De Vito, president and CEO of The Village Bank, the Auburndale Community Charitable Foundation has awarded scholarships totaling $52,000 to 18 local students.
Boston, MA Colliers has arranged $11 million in financing for two multifamily properties on behalf of Tremont Asset Management, LLC, a real estate investment and management company that with affiliates has a portfolio of over 3,500 class A apartments
