Regions Northeast
Financing for Suburban Boston Portfolio Paves Way for Repositioning
Aug 8, 2008

A financing deal valued at $27 .4 million has closed for a group of five office buildings totaling 226,000 square feet in Needham, Mass. With the assistance of commercial real estate capital intermediary Holliday Fenoglio Fowler L.P., a joint venture involving Commonfund Realty and Cabot, Cabot & Forbes secured a three-year adjustable-rate loan from Wells Fargo Real Estate Group Inc. Located about eight miles from downtown Boston, the portfolio sits within the 150-acre New England Business Center off Route 128. The joint venture plans to use the proceeds from the loan to reposition the portfolio through the redevelopment or releasing of the buildings. Presently, one entire structure is leased to Gold's Gym, while the remaining four buildings are unoccupied. Additionally, the property presents the opportunity for higher density development, and Commonfund and Cabot have already begun the permitting process for the construction of a Class A office project.

 
Recent Northeast Headlines
Financing Closes for New Jersey Retail/Office Center
Sept. 05, 2008
The 185,000-square-foot office and retail property at 2143 State Route 35 in Holmdel, N.J., has been financed to the tune of $17.4 million.
avenir HFF Arranges $90M Loan for New Archstone M-F Project in Boston
Sept. 05, 2008
Development of Archstone Avenir, a 241-unit luxury apartment community in Downtown Boston, is moving forward with help from a $90 million construction loan arranged by the Boston and Dallas offices of Holliday Fenoglio Fowler L.P.
Lenders Go After Macklowe Over $510M Loan
Sept. 04, 2008
Deutsche Bank AG and other lenders are suing Macklowe Properties Inc. to foreclose on a $510 million loan the company took out to develop the site of the Drake Hotel in New York City.
McNally Joins Colliers Meredith as Associate
Sept. 04, 2008
Dana McNally has joined Colliers Meredith & Grew as an associate in the Boston Brokerage Group, focusing on the Boston office market where he is responsible for the generation of new business, leasing, financial analysis, lease negotiations, client presentations and market research.
AvalonBay Forms $950M Apartment Fund
Sept. 04, 2008
AvalonBay Communities Inc. has created a new fund that will focus on the acquisition and operation of apartment properties in high barrier-to-entry markets in the Northeast, Mid-Atlantic, Midwest, and on the West Coast.