News: Finance

Wagner and Hosmer of Cushman & Wakefield arrange $116 million in acquisition financing

According to Cushman & Wakefield, $116 million in acquisition financing has been arranged for 10 Post Office Sq., an office property situated in the Financial District along Post Office Sq. Cushman & Wakefield's Equity, Debt & Structured Finance group has arranged financing as the exclusive advisor to a joint venture between Synergy Investments and GreenOak Real Estate. The financing was provided by Mesa West Capital. Cushman & Wakefield's managing director Jay Wagner and associate Timothy Hosmer of the Boston-based Equity, Debt & Structured Finance group arranged the financing. "Synergy, with their extensive portfolio and expertise with today's variety of Boston tenants, is the ideal group to maximize value at 10 Post Office Square" said Wagner. "The lenders that pursued the financing understood Synergy's value-add strategy in the highly desirable core of the financial district." Located on Norman B. Levanthal Park in Post Office Sq., in the Financial District, this 13-story, 445,000 s/f property is leased to several high quality tenants including Boston Private Bank and Arrowstreet Architecture & Design. As a historic bank, 10 Post Office Sq. combines heritage and innovation with its mix of tenants ranging from classical financial services to cutting-edge technology and design,
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The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Are appraisers on the same page as the assessor? - by Richard Seman

Are appraisers on the same page as the assessor? - by Richard Seman

The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4