The Residences at River’s Edge apartment complex in Medford is in the hands of new ownership.
John Hancock Life Insurance Co has acquired the 222-unit complex at 100 Rivers Edge Dr from TIAA-CREF for $90.3M. The multifamily property is managed by Dallas-based Lincoln Property Co.
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Financing
MassHousing has provided Barkan Development with $58.5M in financing for its acquisition and renovation of the 230-unit Wood Ridge Homes development in North Andover. The deal ensures all 230 units will remain affordable for at least the next 30 years.
Colliers International has arranged $45M in financing for 3rd Ave Retail in Burlington, a 130k SF retail walking street that includes shops, dining and entertainment right in the heart of the Route 128 tech corridor. The walking street serves as the centerpiece of a multi-phased mixed-use redevelopment that is slated to include up to 600k SF of retail, 300 luxury rental units, 2M SF of offices and an Archer Hotel at full build-out.
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Leasing
Fraunhofer USA has retained NAI Hunneman’s downtown leasing team to market 5 Channel Center in Boston’s Seaport District. The NAI team of Peter Evans and Ben Sutton has been tasked with marketing 15k SF of office space in the building, which is just off A Street and adjacent to a wide selection of amenities, including restaurants, hotels and public transportation.
Editas Medicine has entered into a lease agreement with Alexandria Real Estate Equities at 11 Hurley St in Cambridge. The company will take over 59k SF of office and lab space when it relocates its corporate HQ in fall 2016.
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This and That
Berkeley Investments has filed paperwork with the city for a proposed 171-unit residential project in Charlestown. The project calls for the renovation of an existing building at 32 Cambridge St, as well as the construction of a new building.
Placester, a marketing platform company that aims to improve the homebuying process, has moved into new digs at 100 High St in the Financial District. The company has raised $50M in funding to date, and has custom-built 31k SF at the building with the assistance of IA Interior Architects.
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The Davis Cos has completed an $8M campus improvement plan at The Center at Corporate Drive, a 487k SF Class-A office park in Burlington. As part of the improvements, the campus now includes a new cafeteria with flexible conference space, an outdoor patio with a town green space and a fitness area.
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