What a whirlwind 2022 has been for both real estate and equity markets. On the side of residential real estate, we have seen not only the highest prices paid for homes, but perhaps the highest rate of price appreciation seen in decades. (at least for the first few months of the year).
The dramatic changes in a vibrant labor force are impacting just as dramatically the built environment. For any development, investment or speculation, determining the highest and best use (H&B) is first and the ongoing analysis. The appraisal process describes a 3 or 4 step process.
Boston, MA MassDevelopment has issued a $378.51 million tax-exempt bond on behalf of Northeastern University, which is using a portion of proceeds to build and equip a new science and engineering complex at 815 Columbus Ave. in the city’s Fenway neighborhood.
Boston, MA REFA hosted its Year-End Celebration and Holiday Party on Monday, November 21st at Bostonia Public House in downtown. Members had the chance to network with colleagues and friends and reflect on another successful year.
Easton, MA North Easton Savings Bank has welcomed Ralph Letner as their new chief lending officer. With 36 years in the banking industry focused on supporting local and regional organizations, the bank welcomes his significant experience as they gear up for further expansion into the commercial and small business vertical.
Darien, CT Washington Trust’s Commercial Real Estate Group provided $16.395 million in financing to a V20 Group-related entity for the acquisition and improvement of a 70,000 s/f office building .
Eliot, ME Boston Realty Advisors has arranged acquisition financing of $7.54 million for two manufactured housing parks in Southern Maine. The two properties financed, part of a single Southern Maine Portfolio, are five miles apart and include Marshwood Estates, at 801-811 Dow Hwy.
Philadelphia, PA EagleBridge Capital has arranged acquisition/permanent mortgage financing in the amount of $7 million for a recently-opened NNN leased CVS pharmacy. The financing was arranged by EagleBridge principal, Ted Sidel.
Boston, MA REFA hosted a sold-out education program on Wednesday, October 19th at WilmerHale’s office at 60 State St. 100 REFA members joined us for “Inflation, Interest Rates, and Potential Recession – Their Impact on Commercial Real Estate.” Bryan Mason, Chatham Financial, kicked off the program with an overview of the interest rate environment.
The economic landscape has dramatically changed. It seems nothing has changed much since late 2019 but the shifts experienced are big, dramatic, and unsettling. But it all fits a guiding principle: We are certain that change will occur.