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March 5, 2024

This Week's Boston Deal Sheet

CEO Of MassHousing Breaks Down Biggest Opportunities In Student Housing April 3

One of the largest biotech companies in the state has renewed its lease in Kendall Square.

This Week's Boston Deal Sheet

Takeda Pharmaceuticals signed a 10-year lease extension for the 223K SF that it occupies at Alexandria Real Estate Equities' 75/125 Binney St. in Kendall Square, the landlord announced Monday. The lease didn't end until 2030 but is now extended until 2040. Takeda has a large presence in the Kendall Square…

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Top Stories on Bisnow.com

REPORT: Hospitality Firm Ennismore In Talks To Drop Major Cash On High-End Hotel Expansion REPORT: Hospitality Firm Ennismore In Talks To Drop Major Cash On High-End Hotel Expansion
Amazon To Roll Out Smaller-Format Whole Foods Concept Amazon To Roll Out Smaller-Format Whole Foods Concept
WeWork Junior Creditors Ask Bankruptcy Court To Sue SoftBank WeWork Junior Creditors Ask Bankruptcy Court To Sue SoftBank
Amazon Pays $650M For Nuclear-Powered Data Center Campus Amazon Pays $650M For Nuclear-Powered Data Center Campus
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Carmel Partners Acquires Stake In 46-Story Boston Apartment Tower

Carmel Partners Acquires Stake In 46-Story Boston Apartment Tower

A California-based multifamily developer has invested in Boston's 46-story The Sudbury apartment tower. Carmel Partners acquired a stake in the 368-unit apartment building from HYM Investment Group and National Real Estate Advisors, brokerage firm JLL announced.The firm didn't disclose…

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Breaking Middle Ground: How Small-Scale Developers Play Part In City Zoning Push

The nationwide housing shortage has spurred political action in every corner of the country. And developers, never strangers to efforts to shape building codes and regulations, find themselves even more engaged in struggles to make development easier, especially those focused on smaller apartment buildings. 

“Increasingly, developers, multifamily and missing-middle alike, are understanding that if they're not engaged, if they don't seek out a seat at the table, they’re ‘on the menu,’” said Mike Kingsella, CEO of Up for Growth, a member network dedicated to pushing pro-housing policy nationwide.

“The de facto trade associations for missing-middle builders really get engaged on these issues. Anything from funding advocacy organizations to participating in that direct advocacy, like signing letters of support, testifying and attending hearings,” he said.

Breaking Middle Ground: How Small-Scale Developers Play Part In City Zoning Push

Developers have become more interested in upzoning and missing-middle policy fights because of the increasing challenge of their work, the rising demand for new housing and, of course, self-interest in doing more development.There is significant demand for more affordable living options. Up for Growth’s housing underproduction report for 2023 found the…

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In Case You Missed It...

Ashford To Sell Hilton Boston Back Bay Hotel For $171M Ashford To Sell Hilton Boston Back Bay Hotel For $171M
MassHousing, MHIC Launch $50M Fund To Support Underrepresented Developers MassHousing, MHIC Launch $50M Fund To Support Underrepresented Developers
Gov. Healey Plans To File Economic Development Bill This Week Aimed At Keeping Mass. Competitive Gov. Healey Plans To File Economic Development Bill This Week Aimed At Keeping Mass. Competitive
Mass. AG Sues Milton For Not Complying With State Housing Law Mass. AG Sues Milton For Not Complying With State Housing Law
MSCI: Boston CBD Sees Largest Drop In Commercial Property Prices Of Any Global City MSCI: Boston CBD Sees Largest Drop In Commercial Property Prices Of Any Global City
 
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Labor, Insurance Costs Rising, But U.S. Hotels Continue Comeback

Labor, Insurance Costs Rising, But U.S. Hotels Continue Comeback  

Cost increases plagued the nation's biggest hotel chains in 2023, with expenses like labor and insurance eating into margins. But a steady stream of leisure travelers and higher room rates helped the companies maintain profitability.

On their fourth-quarter earnings calls, hospitality executives were mostly optimistic about this year as well. Revenge travel might be fading, but supply constraints mean elevated room rates aren't coming down anytime soon, a fact that has helped the industry cope with the seemingly strong but still uncertain economic climate.

“It was a solid year,” Morningstar Credit Senior Vice President David Putro told Bisnow. “Outside of properties that have specific issues, generally there seems to be solid net cash flow growth. And even anecdotally, I've traveled a bit already this year, and hotel prices are not going backwards at the…

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