Boston
Loews Buys Boston’s 225-Room Back Bay Hotel for $84M
Continuing its mission to expand its presence in gateway cities and leading resort markets over the next five years, Loews Hotels & Resorts has acquired The Back Bay Hotel, an iconic 225-room lodging property in Boston.
Norwegian Pension Fund Charges into U.S. Market via TIAA-CREF
Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global, has entered into a $1.2 billion JV with TIAA-CREF and has at one stroke gained substantial interests in five Class A or boutique buildings on the East Coast.
Dudley Square Affordable Housing Project Awarded MassDevelopment Bond
Two residential projects planned for Boston’s thriving Roxbury neighborhood have received $9 million in tax exemptions from MassDevelopment, the stat’s finance and development agency, who issued the bond on behalf of Dudley Greenville LLC.
Roseland Breaks Ground on $67 Million Portside at Pier One Apartment Project
Roseland Property Company, a subsidiary of Edison, NJ-based real estate investment trust Mack-Cali Realty Corporation, broke ground on a five-story apartment project that is part of Portside at Pier One, a planned mixed-use community located at Marginal and Lewis Streets on the East Boston waterfront.
Mack-Cali Constructing M-U Development Project in East Boston
The Roseland subsidiary of the Mack-Cali Realty Corp. has commenced construction on Portside at Pier One, a 176-unit luxury apartment project on the East Boston waterfront.
Mack-Cali Acquires Two Luxury M-F Properties in Metro Boston
Mack-Cali Realty Corp. has acquired Alterra at Overlook Ridge IA in Metro Boston for approximately $61 million and has also agreed to acquire Alterra at Overlook Ridge IB for approximately $89 million from a joint venture that includes Prudential Insurance Co. of America.
Wood Partners to Develop 155-Unit Luxury Community in Watertown
Wood Partners will break ground this month on a $40 million upscale apartment community in the suburb of Watertown, just six miles northwest of Boston. The real estate investment and development company has recently announced the acquisition of an 11.6-acre property located at 255 Waltham St., close to major employers such as Bright Horizons, iProspect, Staples, EMC, Boston Scientific, Genzyme, educational institutions, transportation, shops and other public spaces.
Former Somerville Recording Studio Redeveloped into Sustainable Apartment Community
Real estate development company Nauset Construction of Needham has completed a new smart-growth, multifamily community in Somerville, within walking distance of the lively Davis Square. Named Seven Cameron, the project was constructed on the site of the former Rounder Records and Fort Apache recording studios, which has been used by world-famous rock bands such as Radiohead and the Pixies to record music tracks.
Clarion Nabs $296M Financing for M-F Office Portfolio
Clarion Partners will have some hefty payments to make in the new year, now that a $296 million financing package for a 10-building, 1.6 million-square-foot portfolio of Class A office buildings it owns has been completed.
Ashford, Prudential Complete $216M Financing on Three-Hotel Portfolio
Ashford Hospitality, along with its joint venture partner, Prudential Real Estate Investors, has closed a $216 million refinancing loan secured by non-recourse senior mortgage proceeds for a three-property portfolio of hotels.