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
Allied Partners' Hadar Busted for Drugs
Oct. 06, 2008
According to a report in the New York Daily News, Eric Hadar, CEO of Allied Partners, was busted for drugs, including cocaine, Oxycontin and Xanax, He was stopped while driving erratically Friday on the Saw Mill River Parkway in New York and is due to make a court appearance on two felony counts today in Westchester, N,Y., the paper stated. His real estate firm bought the Citigroup Center on Lexington Ave. for $725 million in 2001.
Manhattan Office Market Reaches Uncharted Waters
Oct. 06, 2008
The flagship of the United States office investment and leasing market, Manhattan is now also at the heart of the financial crisis. The stunning events of recent weeks point to a new era for the economy, but experts differ about how the changes will play out in Manhattan’s commercial real estate market during the next several quarters and beyond.
Cedar Shopping Center Secures $78M Financing Deal for $105M Project
Oct. 06, 2008
The ice cold lending market has given a warmer reception to Cedar Shopping Centers Inc., which just closed a construction financing deal valued at $77.7 million for Upland Square, a 655,000-square-foot project on 108 acres in West Pottsgrove, Pa., approximately 40 miles northwest of Philadelphia.
Marcus & Millichap Arranges Sale of 2 Connecticut M-F Complexes
Oct. 03, 2008
Marcus & Millichap Real Estate Investment Services has arranged the sale of two Class A multi-family complexes - Chestnut Hill Apartments and Northwoods Apartments - in Middletown, Conn.
NorthMarq Arranges $20M for Lincoln North in Massachussetts
Oct. 03, 2008
Joseph Hegenbart of NorthMarq¹s Boston Regional office has arranged mortgage financing of $20 million for Lincoln North, located at 55 Old Bedford Road in Lincoln, Mass.