The Carlyle Group has just closed on the $37 million sale of the Boston office building at 40 Court Street to Brickman Associates. Carlyle had owned the 110,000-square-foot property since 2000, when it was acquired for $21 million.
The building, which totals 110,005 square feet, is 84 percent leased, according to CB Richard Ellis/New England, whose capital markets team represented D.C.-based private equity firm Carlyle Group in the transaction.
A small cluster of men stood in the rain at 2 p.m. Friday outside 273 Cambridge St., a beige three-decker with a blue minivan parked in the driveway. Without walking through the three-family wood frame building, Michael G. Roy of Commonwealth Auction Associates opened the bidding. A couple of minutes later, the property, which sold for $304,122 in March 2005, was awarded to the bank that foreclosed on it. There was one other bidder. The auction price was not disclosed.
The tribe owns or has options on more than 350 acres in Middleboro and now is talking to a family trust that is shopping 202 acres abutting the tribe's new parcels.
A report from The Warren Group says the number of foreclosure auction announcements in Massachusetts more than doubled in May compared with the same month a year ago. However, last month's total of 1,589 announcements marked a slight decline from April of this year.
At a crossroads of old housing and commercial blight, contemporary design takes root in a wave of new projects.
The project is still in the beginning stages, but the first phase for the front 10 acres has already received Planning Board approval. Northeast last week received a one-year extension of its special permit for that phase, which includes two family-style restaurants, a fast food eatery, gas station-convenience store and bank.
A portfolio of 26 retail centers totaling 1.9 million square feet is about to come under new ownership. Dividend Capital Total Realty Trust Inc. has signed a contract to purchase the assets from affiliates of Tedeschi Realty Corp. for approximately $392 million.
The deal clearly establishes Middleboro as the tribe's preferred location for a resort casino, rather than New Bedford, which had also been under consideration. The tribe controls the rights to 325 acres of land in Middleboro.
Red Mill Village is one of many new developments in Massachusetts reserved for people age 55 and older. Yet unlike some age-restricted developments in Florida, the Norton estate carefully replicates the New England aesthetic so that it doesn't feel like a place for old people.
Earlier this week, during the Realcomm 2007 conference in Boston (more about that later), I chatted with a vendor that has developed and is rolling out a hosted application for building managers who need to quantify the services delivered to clients and then issue one aggregate invoice that lays it all out. IRIS, developed NACT of Provo, Utah, (no, it's not a Novell or WordPerfect spin-off) may be the first true converged billing system for voice, video, data, and anything where usage can be sniffed out and quantified.
Boston Properties, Inc. , a real estate investment trust, announced today that Douglas T. Linde, President and Chief Financial Officer, will make a presentation at the National Association of Real Estate Investment Trusts' REITWeek
Richards Barry Joyce & Partners, LLC (RBJ), a full-service commercial real estate advisory firm, announced that it brokered the sale of the six-building Forge Park portfolio in Franklin, MA on behalf of an investor portfolio advised by the US real estate business of UBS Global Asset Management. The buildings were purchased by Colony Realty Partners.
In a letter to priests dated May 31, Cardinal Seán P. O’Malley said that the agreements to sell the chancery buildings and Bishop Peterson Hall to Boston College and relocate the central administration to Braintree is part of a strategic, long-term plan to strengthen the archdiocese.
Boston Properties Inc. has sold an office park in Quincy for $37 million, a broker involved in the transaction said today.The broker, Meredith & Grew, a Boston commercial real estate company, said it represented Boston Properties, a Boston real estate investment trust whose properties include the Prudential Center in Boston.
