Category: Owners Developers & Managers

Burlington, MA The 260,000 s/f life science facility at 25 Blue Sky Dr. has reached an exciting construction milestone. A collaboration between Nordblom Company and design-build construction management firm, The Richmond Group, the three-story building was “topped off, when the last beam was placed atop the structure.

Charlestown, MA Suffolk was selected by Home Base to renovate and expand its headquarters facility, which provides support and clinical services to United States military veterans and their families. Home Base currently occupies 26,000 s/f of the building’s first and second floors and has chosen to partner with Suffolk to manage the interior fit-out on the building’s third floor.

Boston, MA Shawmut Design and Construction joined the city of Boston on November 18 to celebrate the reopening of City Hall Plaza following its transformational renovation to create a modernized, everyday destination. The completed construction project, led by Shawmut in partnership with global design firm Sasaki, transformed the seven-acre plaza into a civic space for all.

Gloucester, MA Jay Goldberg of Spire Investments has completed the purchase of 1 Webster St. The property, a nine-unit, four-story brick apartment building built in 1981, was purchased for $1.65 million, or $183,333 per unit.

Braintree, MA According to The Schochet Cos., Peter Lewis, executive vice president of property management, has been appointed as chair-elect of the board for National Affordable Housing Management Association (NAHMA).

East Cambridge, MA J&M Brown Company (JMB) has completed the comprehensive core and shell electrical construction of the new 14-story, 510,000 s/f Cambridge Crossing Parcel G building located at 350 Water St. The Sanofi technology and research building, is comprised of 12 floors of research labs and offices; a two-floor electrical and mechanical penthouse; and a three-level below-grade parking garage.

In 2022, CAI federal advocates worked with members of Congress to introduce two important bills to help condominium homeowners and associations fund building repairs, led a multi-industry push against burdensome condominium and housing cooperative mortgage rules issued by Fannie Mae and Freddie Mac, and continued advocating for fairness in disaster recovery resources for association homeowners.

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.