Top Stories: May 2011

Lucas of Love Funding closes $10.5 million refinancing for Schooner Estates Retirement Community; secured through HUD's 223(A)(7) loan program Stout of Atlantic Props. arranges 30,000 s/f lease to Rising Tide Charter School, 57 Armstrong Rd., Plymouth; building owned by JLM Realty Assoc. Legacy Real Estate Ventures purchases 25,000 s/f office building at 63 Pleasant St., Watertown, for $2.61 million; Wallace Property Co. reps seller TownePlace Suites by Marriott in Quonset Business Park is R.I.'s newest green hotel; project team includes Pro Con and Waterford Dev. Butler, St. John, Byrne and McLaughlin of Cushman & Wakefield sell 390-unit Wellington Hill, Manchester, NH for $36m; sold by Equity Residential CBRE|Boulos assists Community Counseling Ctr. locate to Bayside Center, 165 Lancaster St., Portland; project team includes Landry/French DesRochers of NorthMarq Capital arranges $11.8 million first mortgage financing for 80,000 s/f medical condo at 5520 Park Ave., Trumbull, Conn. Galvin of H. Pearce Commercial brokers 10,000 s/f office/industrial lease at 301 Soundview Rd., Guilford, Conn. to Nutmeg Twisters Gym Surprenant of MG Commercial brokers $3 million sale of 78,750 s/f office headquarters property for Webster Bank at 330 Swansea Mall Dr. UC Funding structures and closes over $150m in 3 months; props. include Sedgefield Apts., Marietta, GA. and Carlisle Crossing, Carlisle, Penn. Surprenant of Goedecke & Co. arranges $17 million in construction and JV financing on behalf of entity controlled by Oaktree Dev. Fantini and Eddy of Fantini & Gorga arrange $8.65 million financing for the preservation of 81-unit Salem Towers, Malden, Mass. Davis Sq. Partners to break ground on $52.5 million Maxwell's Green project; 5.5 acre transit-oriented development in Somerville, Mass. Cregan and Crecelius of Paramount Props. sells 38,400 s/f industrial building at 4 Carol Dr., Lincoln, for $950,000 to Beed Realty Co. Belvoir Props. restores 1939 Rosedale Landing, Cranston into 33-unit waterfront condo complex; project team includes DiPrete Engineering Cornerstone Realty Consultants arrange $31 million refinance for 521-unit Terrace Estates, 152 Shore Dr., Peabody, Mass. Colantonio, Inc. honored by CMAA for work on the 110,000 s/f D. Justin McCarthy College Center at Framingham State University Witten and Nolletti of Institutional Property Advisors of Marcus & Millichap sell 192-unit Hillcroft at Danbury (Conn.) for $27.65 million Suffolk Const. and Steffian Bradley Architects begin $34 million, 50,000 s/f Mattapan (Mass.) Community Health Center, 1575 Blue Hill Ave. Walsh Bros. completes Fenway Park's 10-year, $240 million improvement plan; final phase included new concourse and concession stands Acorn Management completes renovation of 250,000 s/f Whitman Mill into 100-unit Victoria Riverside Townhouse Lofts in New Bedford, Mass. Burgess Properties sells 1-acre at 1100 Eastern Ave., Malden for $2.25 million to Gersham, Brown, Crowley for new 13,000 s/f CVS store Florence Electric nears completion of $25 million, 4.1 megawatt statewide solar installation project; funded by American Recovery and Reinvestment Act Landmark Structures completes 32-unit LEED Platinum for Homes Low-rise Multi-family residence at 325 Cabot St., Beverly, Mass.