Pantzer Properties Acquires Woburn Apartment Complex For $130M: The Boston Deal Sheet
A New York-based multifamily owner and operator acquired a 289-unit apartment complex in Woburn.
Pantzer Properties acquired The Point at Woburn at 120 Commerce Way for $130M, according to a Jan. 13 filing. The property seller was a business entity linked to Toll Brothers.
The apartment complex and the 9,400 SF of restaurant and retail space were originally developed by Cabot Cabot & Forbes, Toll Brothers and Carlyle Group. The complex, then known as Emblem 120, fully opened in 2022.
The property is adjacent to the Metro Northwest Shopping Center, which is anchored by a Target and a Petco. The property is also within walking distance of the Anderson/Woburn commuter rail stop.
Pantzer Properties owns more than 12,000 units along the East Coast, including The Point at Waltham in Waltham, The Point at Merrimack Valley in Methuen, and The Point at Green District in Marlborough.
SALES
The Davis Cos. acquired a four-building office portfolio at 34, 38 and 44 Farnsworth St. as well as 332 Congress St. for $56M from Nuveen.
Nuveen originally acquired the properties in 2016 as part of a five-property portfolio sale for $224M.
Davis also sold several Watertown properties for $16M. The properties are at 10-38 Bridge St., 128 Waltham St. and 114-118 Waltham St.
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New York Capital Investment Group submitted a high bid for the 4054 Mystic Valley Parkway retail complex in Medford for $5.5M. The 1.4-acre site is home to a Bertucci's pizzeria.
The site was once proposed for a Rise Construction life sciences development, Banker & Tradesman reported.
LEASES
Weil, Gotshal & Manges signed a 37K SF lease to move to Samuels & Associates' Lyrik development in the Back Bay, the Boston Business Journal reported. The lease brings the office building at 1001 Boylston St. to 93% leased. Other tenants include CarGurus and Lego.
The law firm is currently based at 100 Federal St.
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Coworking company Industrious signed a 71K SF lease at 131 Dartmouth St. in the Back Bay, the BBJ reported. The company expanded by 22K SF and will host 267 office seats.
TA Realty owns the office building.
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Amazon signed a 450K SF lease at Seyon Group's 139 Campanelli Drive in Uxbridge. Seyon acquired the property in 2021 for $18M from Braintree-based Campanelli Construction and completed the warehouse in 2023.
PERSONNEL
Day Pitney LLP announced Jared P. Ross as the new leader of its real estate, environmental and land use business unit. Ross will serve alongside Craig Gianetti and will succeed Marie Betrand.
CONSTRUCTION AND DEVELOPMENT
The Boston Planning Department approved 458K SF of construction across five developments during its monthly meeting Thursday. A total of 119 new homes were approved, including 56 income-restricted units.
The approvals include the city's first hotel project permitted under its net-zero carbon zoning. The 96-room hotel will be at 393 Cambridge St. in Allston.
Other projects include the 41-unit first phase of the Rogerson-Beaufort project in Jamaica Plain and a 52-unit apartment project at 841 Morton St.
