The Deal Sheet
| An affiliate of Hospitality Properties Trust has agreed to pay $150.5M to acquire Sonesta International Hotels Corp, including its interests in Royal Sonesta Hotels in Cambridge and New Orleans. |
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| The deal, agreed to last Thursday, is expected to close Q1 ?12. The Sonesta management team now operating the hotels will stay in place and will be available to manage other HPT properties. The Newton-based REIT owns 288 hotels and 185 travel centers in the US, Canada, and Puerto Rico.***AvalonBay VAF Acquisition purchased the Captain Parker Arms, a94-unit apartment complex located in Lexington, from Captain Parker Arms Apartments LLC for $20.8M. The property, which is located near I-95/Rt 128, has 11 buildings on nearly 11 acres. Amenities include professional management, maintenance, and landscaped grounds and is walking distance from the town center. NAI Hunneman?s David Ross and Gina Barroso repped the seller and found the buyer. DEVELOPMENT Mass Eye and Ear started construction on a 90k SF facility with parking for 150 cars in Mission Hill, near the Longwood Medical Area. Developer The Beal Cos will renovate an existing building to create outpatient clinics, surgical facilities, a caf , and retail.Tsoi/Kobus is the architect and Suffolk Construction the CM. *** The new Grousbeck Center for Students & Technology, a 17k SFfacility at the Perkins School for the Blind, was dedicated on Monday. It houses an Internet radio station and music studio; multi-purpose and training rooms; conference rooms; offices; and a student-run caf . It was designed by the Gund Parntership and built by Shawmut Design & Construction. It also features IT systems that can be controlled by people who are visually impaired through specially designed iPads. *** Household Goods Recycling of Massachusetts (HGRM) will buythe land and the building where it now leases 10k SF in Acton with the proceeds from a $1.2M tax-exempt bond issued byMassDevelopment. The bond, purchased by Middlesex Savings Bank, will allow the non-profit to expand into 14k SF. LEASING |
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| Black Duck Software signed up for 29k SF at 8 New England Executive Park in Burlington, a relo from Waltham. COMSOLrenewed and expanded its lease into 27k SF at One New England Executive Park, bringing the office park to 90% leased. In both deals, landlord Equity Office was repped by Colliers International'sMatthew Daniels, John Carroll III, and Andrew Whipple. T3 Advisors repped Black Duck and Colliers repped COMSOL. |
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| Steele Canvas Basket renewed its nearly 24k SF lease at 201 Williams St in Chelsea, which has easy access to the airport and the Tobin Bridge. The manufacturer has been a tenant in the building for 25 years. Landlord Combined Properties was repped in-house by Greg Regazzini.*** Intervale Capital, a $280M private equity fund investing in oilfield service and manufacturing companies, signed a 6,083 SF, long-term lease at Charles Square in Cambridge. NAI Hunneman?sGreg Larsen, Steve James, and Jim Boudrot repped the tenant. Richards Barry Joyce & Partners' Eric Smith repped landlord KSA Realty Trust, an affiliate of Carpenter & Company. ASSIGNMENTS Goody Clancy has been awarded the planning and first-phase design services for a new section of the Ohio State Universitycampus. It will total 3,200 beds and associated facilities. Goody Clancy will lead the project and Elkus Manfredi will provide master planning support. The initial phase of the job includes residence halls for 800 students, a dining facility, and possibly a recreation center. EXECUTIVE MOVES Finegold + Alexander, celebrating its 50th this year, named seven members of its leadership team as shareholders in the firm for their contributions to the firm and the profession. They are: Nancy Goodwin, principal; Tony Hsiao, design principal; Ellen Anselone, senior associate; Jeffrey Garriga, senior associate; Rebecca Berry, associate sustainability team leader; Regan Shields Ives, associate; and Alan Gerofsky, associate, comptroller. *** Grossman Development Group, a boutique real estate development firm led by Howard Grossman, announced that Mark Hebert has joined the company as VP of development. The 18-year CRE vet has experience in all aspects of the business from engineering to planning, construction, design, development, leasing, and transportation planning. *** Sasaki Associates is expanding its sports planning and design services with the acquisition of Sgarzi Associates and the appointment of Chris Sgarzi as a principal. Stephen Sefton will also join the sports practice as senior associate. He's coming from Ellerbe/AECOM. |
