Category: Owners Developers & Managers

Buying real estate using significant leverage (debt) during times of high inflation can make tremendous sense. On a long-term basis, rents typically rise with inflation while interest payments stay the same. Financing acquisitions using 65% loan to value (LTV), a 10% increase in net income will result in a 31% increase in cash flow! Not to mention, increased cash flow often translates to an increased value of the asset to help solve for an exit.

March 21, 2023 Networking at the Boston Bruins Game and Legacy Club of Boston - Industry Partners and Members

Brookline, MA MassDevelopment has issued a $36 million tax-exempt bond on behalf of The Park School, a nonprofit, coeducational day school for grades pre-K through eight, will use a portion of bond proceeds to fund several capital projects on its campus at 171 Goddard Ave.

Newburyport, MA Nordlund Associates has completed the sale of 7 Prince Place, Unit 301, in downtown. The 4,300 s/f office condominium was purchased for $1.65 million by the owners of Ambrosi, Donahue & Congdon, CPA, a local area certified public accounting firm.

Boston, MA According to High Street Residential (HSR), the residential subsidiary of Trammell Crow Co. (TCC), Carolyn Hewitt has joined the firm to lead multifamily development in the city. In her role as senior vice president, she will be responsible for sourcing, shaping and executing multifamily developments throughout the region.

South Boston, MA Dennis Kelleher and John Pentore of Horvath & Tremblay have completed the sale of three apartment buildings for $8.03 million. Exclusively representing 42 North Capital in the partial disposition of their portfolio, Kelleher and Pentore sold 115 G St. for $2.6 million, 149 W 8th St. for $2.225 million and 870 E 5th St. for $3.2 million.

Boston, MA One Dalton, the tallest residential building in the city and home to Four Seasons Hotel and Four Seasons Private Residences, was honored by Council on Tall Buildings and Urban Habitat (CTBUH) as a best tall building worldwide in its height category.

Pembroke, MA According to Acella Construction Corp., company president David Dirubbo has been named this year’s Twenty-First Century Leadership Award recipient from the Mayflower Council, Boy Scouts of America. The awards dinner, held at Lombardo’s in Randolph, recognized Dirubbo and Acella for representing the ideas of the Scout Oath and Law and for good corporate citizenship and philanthropic support to the community.

Newton, MA According to National Development, the firm has hired two new senior vice presidents, Don Briggs and Charlie Rollins, to its development group. Briggs comes to National Development from Eastern Real Estate where he was managing director – real estate.

Boston, MA The sale of buildings too commonly triggers an endless torrent of rent increases and housing instability, significantly now as we recover from the pandemic.

Boston, MA The Procopio Companies (Procopio) has won four awards at the annual Builders and Remodelers Association of Greater Boston (BRAGB) PRISM Awards Gala. Individual members of the Procopio team and one of their recently developed projects both received honors at the event, held on October 20th. Mosaic, Procopio’s recently sold multifamily project in Lynn, MA, won for Best Use of Smart Home Technology.

Everett, MA Greystar Real Estate Partners, LLC, a global leader in the investment, development, and management of rental housing and commercial properties, has broken ground on the second phase of the 85 Boston St. development, unveiling its moniker as The Maxwell.