THE DEAL SHEET
| DEVELOPMENT Multifamily REIT AvalonBay Communities is busy. They just submitted to the BRA a proposal to build a 29-story, 404 apartment residence at 45 Stuart St where Chinatown and the Theater District converge. The project team includes: CBT Architects, Goulston & Storrs, Howard/Stein?Hudson, Sanborn Head, The Green Engineer and Nitsch. AvalonBay is also doing site prep for the $90M Avalon Exeter at the Prudential Center in the Back Bay. Not to miss a major downtown neighborhood, word on the street is that AvalonBay has something brewing at the waterfront. |
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| Continuing through the permitting process, Simon Property Group said yesterday that it filed a Draft Project Impact Report for its $500M plan to renovate and expand Copley Place. It is proposing a 47-story residence, 115k SF of new and expanded retail and restaurants, a winter garden, and exterior landscaping. The development team includes: Elkus Manfredi Architects and Collaborative Partners as project manager. |
| SALES Promed Properties paid $112M for two Tufts Medical Center buildings from Daymark Realty Advisors, a former affiliate of Grubb & Ellis. Tufts has fully leased through ?17 the buildings at 260 Tremont St and 15 Kneeland St. Grubb & Ellis? Phil Giunta and Anthony Biette repped Daymark and found the buyer.*** Fillmore Capital purchased the $90M mezz note last week on the 471-room Renaissance Boston Waterfront Hotel from an affiliate of Dekabank. The purchase price was not available. The South Boston hotel, developed for about $165M by Loeb Partners Realty, was scheduled to be sold at auction. *** |
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| Hobbs Brook Management now owns all seven buildings at Edgewater Office Park in Wakefield since its recent $36.5M purchase of a land parcel and three office buildings at 101, 201, and 500 Edgewater Dr. Wyman Street Advisors? Charles E ?Chip? Batchelder repped Hobbs Brook while Cushman & Wakefield's David Pergola, Rob Griffin, and Ed Maher repped the seller, an affiliate of TIAA-CREF.***Emeritus Senior Living has paid $40M for two seniors housing buildings: The Village at Fillmore Pond in Bennington, Vt., 101 units, 93k SF ($21M) and The Inn at Spruce Wood in Durham, N.H., 100 units, 86k SF ($19M). Marcus & Millichap?s Michael Pardoll and Christopher Hyldahl repped the seller, NE4 Senior Living Facilities, and the buyer. NAI JL Davis Realty's Jeffrey Nick assisted in Vermont and Marcus & Millichap?s Todd Tremblay did the same in New Hampshire. *** Synergy Investment & Development purchased 99 Chauncy St for $12.8M from Textile Building Trust. Grubb & Ellis' Anthony Biette and Philip Giunta repped the seller of the 96k SF, 1935 building that is 90% occupied. LEASING Central National-Gottesman has agreed to a 12-year lease for 131k SF of industrial space at 190 Mechanic St in Bellingham. The warehouse/distribution facility on Route 140 off I-495 exit 17 is now fully leased. CBRE's Robert Gibson and Ed Jaroz repped the owner, Paradigm Properties, and Northeast Realty Consultants?David Post repped CNG. *** NSK & Associates leased 5,981 SF at Two Liberty Square in the Financial District from an affiliate of AEGON USA Realty Advisors bringing the property to about 75% leased. Landmark Real Estate Advisors? Ty Janney, repped NSK. Grubb & Ellis? Jason Cameron and Matthew Twombly repped AEGON. *** |
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| LPL Financial has leased nearly 69k SF at 75 State Street for 11 years in a relo and expansion from One Beacon Street, where it now occupies 56K SF. The landlord, Brookfield Properties, was repped by RBJ & Partners' Michael Joyce, Tom Ashe, and Pat Buckley. CresaPartners' Rick Lowe, Joe Sciolla, and Brandon Leitner repped LPL. Colleagues Barry Dube, Amy Unangst, and Kari Forgione are providing project management services: build-out, move coordination, budgeting, and scheduling oversight. |
| FINANCING Avision Young?s Boston office arranged $50M in financing for three properties from Webster Bank and GE Capital: 299-301 Ballardvale St in Wilmington/Andover, 201-207 South St in the Leather District and 52-56 Roland St in Charlestown.*** 115 Washington Street Trust has received $2M in acquisition and permanent financing for 115 Washington St in Attleboro, a 16k SF building occupied by Goodwill Industries. EagleBridge Capital's Brian Sheehan and Ted Sidel arranged the transaction. |
