THE DEAL SHEET
| FINANCING |
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| Institutional investors advised by JP Morgan Asset Management and Samuels & Associates secured $230M in acquisition financing for Landmark Center, a 950k SF, Class-A mixed-use complex in the Fenway near the Longwood Medical Area. HHF?s Bob Herron, Whitney Wilcox, and Greg LaBine arranged the loan provided by New York Life Insurance Co and the New York State Teachers Retirement System. *** An affiliate of iStar Financial secured $120M in financing from RBS securities to buy a seven-state portfolio occupied by Preferred Freezer Services. CBRE's Greg Greene arranged the debt for iStar for the properties in Boston, Elizabeth (NJ), Norfolk, Atlanta, Jacksonville, Houston, and LA. *** |
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| Carpenter & Co and BayNorth Capital secured a $24M construction/permanent loan to redevelop the former Sheraton Braintree Hotel into a 200-key Hyatt Place Hotel with 42k SF of retail. HHF?s Riaz Cassum and Lauren O?Neil repped the Carpenter/BayNorth JV. DEVELOPMENT Meditech Information technology won approval from the Freetown, Mass. planning board last week to build an $80M to $100M, 186k SF office in the Riverfront Business Park. Meditech still needs approval from the town South Main Street Corridor Overlay, the Massachusetts Environmental Policy Act office and the state Department of Transportation. If Meditech gets the green light, construction could start in the fall. LEASING E Ink leased 139k SF of R&D space, all at 1000 Technology Park Dr in Billerica from The Gutierrez Co. The landlord repped for itself while Colliers? Tad Lee and Christopher Lawrence repped E Ink. *** Three leases totaling 120k SF were renewed at the 495 Business Center in Tewksbury. Philips Electronics North America renewed 83k SF at 500 Business Center Dr, repped by RBJ?s John Wilson. CompuCom Systems, renewed 33k SF at 400 Business Center Dr, repped by CBRE's Mark Reardon. Sonexis Technology renewed 4,114 SF, repped by JLL?s Troy Coady and Brian Morrissey. Newmark Knight Frank principal Christopher Curley repped the landlord, Capital Commercial Investments. *** Biotech firm Avila Therapeutics has leased 23k SF at 45 Wiggins Ave in Bedford from Alexandria Real Estate Equities in an expansion and relo from Alexandria's 100 Beaver St in Waltham. Cushman & Wakefield's Juliette Reiter, Mark Winters, and David Townsend repped Avila. *** Veracode renewed its lease of 23k SF at 4 Van de Graaff Dr in Burlington from Normandy Real Estate Partners. Cushman & Wakefield's Mark Roth and Michael Moynahan repped Veracode and FHO?s Duncan Gratton repped the landlord. *** New Boston Fund signed a 24k SF lease at 75 State St in a relo from 60 State St. FHO?s Peter Farnum, Chuck O?Connor, and Alison Cavanaugh repped the tenant. The landlord, Brookfield Properties 75 State LLC, was repped by RBJ. A 31-story, art deco office building with 700 underground parking spaces, 75 State St recently achieved LEED Gold EB. *** Illinois Tool Works extended its lease for 110k SF from KBS Capital Advisors at 825 University Ave in Norwood. The 167k SF, two-story office/R&D complex is 100% leased to Illinois Tool Works and LTX Corp. Cushman & Wakefield's Mike Frisoli and JR McDonald repped the tenant while RBJ?s Brian McKenzie, John Lashar, and Rob Byrne repped KBS. *** Regus Business Centre leased nearly 20k SF of office space at 303 Wyman Street in Waltham from 275 Wyman LLC. CBRE's Steve Rigby, Peter Danna, Baron Aldrine, Mike Kay, and Mike Cleary repped Regus. *** Champion Windows has leased nearly 12k SF at 362 Elm St in Marlboro in an industrial/flex building for a relo from Avon. Colliers?Wayne Spiegel repped the landlord, Colony Development. Cresa Partners' Dave Ross repped Champion. Ross also repped RadiSys to restructure its existing lease at 200 Nickerson Rd for 5,899 SF. RBJ?s Darl Leone repped the landlord, Normandy. |
