News
Sweet Spot: Quality Core
July 14, 2010
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| Trepp research shows that loans going back to special servicers are rising nationwide but declining in Boston. Indeed, Charles River Realty Investors? Brian Kavoogian says, ?the value of core real estate has jumped sharply.? He recently sold two recession buys for double his purchase price. The Newton Marriott went for $77M (in a transaction set to close early August)—he bought it for $29M last June. He also sold Ten Brookline Place for $112M and bought it for $62M in early '09. Intercontinental Real Estate's Paul Nasser agrees that New England is doing better than other regions because it has great economic drivers: education, medical, biotech, and venture capital sectors that are ?profitable and sustainable.? |
