Category: Owners Developers & Managers

Dartmouth, MA UMass Dartmouth broke ground on a $134 million housing and dining complex designed to transform the student living and learning experience on campus. The project will create 150 construction jobs. The facilities will open when students arrive for classes in fall 2020.

Hooksett, NH Cornerstone Realty Capital arranged $6.7 million in financing for Merrimack Heights. The property consists of two connected apartment buildings home to 70 apartments. The unit mix is comprised of a mix of two studios, 14 one-bedroom, and 54 two-bedroom units.

Boston, MA Cushman & Wakefield’s New England managing principal, Carolyn Sidor, has been named BOMA Boston’s 2018 Industry Leader of the Year. Sidor was honored at BOMA’s Outstanding Building of the Year (TOBY) & Industry Awards event.  

An IRC section 1031 like-kind exchange started near the end of a tax year (December 31 for many) will often not be completed until the following tax year. The regulations address how to handle incomplete exchanges and cash “boot” received by the taxpayer in the following year. 

Chelmsford, MA MassHousing has closed on $23.6 million in affordable housing financing to Princeton Properties and Parse Capital. The MassHousing permanent financing supports affordability at the Mill and 3 Apartments, a 108-unit, mixed-income apartment community.

Roxbury, MA Historic Boston Inc. (HBI) has completed acquisition of St. James African Orthodox Church, the former Norwegian Free Evangelical Church, built in 1910, and is continuing to work with the Highland Park neighborhood to determine specific new uses for the 50 Cedar St. property.

Waltham, MA At the Miami Autocall Authorized Distributor Conference, Johnson Controls International (JCI) presented NOREL with the “Top Gun” award for the highest sales of Autocall Fire Detection products. This award represents the top distributor amongst all distributors in North America for 2017-2018.

Northbridge, MA ERA Key Realty Services, which has 14 offices throughout central and eastern Mass., has been named among the top places to work in the state, based on a survey administered by Energage for The Boston Globe.

Devens, MA Newmark Knight Frank (NKF) has completed a 355,000 s/f lease to Quiet Logistics at 64 Jackson Rd. NKF executive managing directors Rick Schuhwerk, Ed Jarosz and Tony Coskren, along with managing director Brian Pinch and associate Lizzie Kusbit represented the property owner, GFI Partners, in the transaction. 

Newton, MA According to STV|DPM, Steven Lacerte has joined its New England team as project executive. STV|DPM is a part of STV, a national award-winning firm that provides a broad range of design, construction, and project management services.

Retail shopping center leases often include an exclusive use provision, which prohibits a landlord from renting space in a given shopping center to another tenant that engages in the same type of business as the tenant’s primary use (e.g., a grocery store lease that stipulates that a landlord may not rent space in the same plaza to any other store that sells groceries or produce).

Roxbury, MA MassDevelopment has issued a $14.495 million tax-exempt bond on behalf of Wilshire Westminster LLC, an affiliate of the Urban Edge Housing Corporation, which will use bond proceeds to renovate, furnish, and equip two multifamily rental housing facilities in the Roxbury and Dorchester neighborhoods: Westminster Court and Wilshire Apartments.