Spinelli named senior vice president at Randolph Savings Bank
The Randolph Savings Bank board of trustees has named Michael Spinelli of Canton senior vice president and senior lending officer for Randolph Savings Bank. Spinelli previously served as the vice president and the commercial loan manager. He will now be responsible for oversight of all aspects of residential and commercial lending. Spinelli has a BS from Bentley College and his MBA in Finance from Anna Maria College. Having experience with Horizon Bank, Spinelli came to Randolph Savings in 2007 from Holbrook Cooperative Bank and is a member of the board of directors of Milton Hospital.
Boston, MA RE&FA’s spring and summer programming continued to highlight the trends and issues shaping the commercial real estate industry. In May, RE&FA hosted Data Centers in the Current CRE Landscape at The Retreat at 225 Franklin St. The program drew strong engagement and fostered thoughtful discussion around one of commercial real estate’s fastest-growing and most impactful sectors.
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.
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