the real reporter - may 3, 2013

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Comcast Cometh

WOBURN — A sale/leaseback gonesideways caused the owners of 9Forbes Rd. to scramble over the pastyear, but the 77,000-sf flex/industrialbuilding has taken a big step towardsbeing righted after Comcast thisweek committed to nearly 30,000 sf inthe 24-year-old structure owned byCRE veterans Robert Gordon andGerry McSweeney. Jones LangLaSalle advised Comcast andLincoln Property Co. landlord CityNorth Development in a 10-yearcommitment at the single-story struc-ture that abuts Interstate 93 Southjust past the Interstate 95/Route 128interchange.

“It’s a great deal for the building

THE REAL REPORT

continued on page 7

MAY 3, 2013

A COMPENDIUM OF COMMERCIAL PROPERTY & CAPITAL NEWS

THIS WEEK’S ISSUEBus Lines . . . . . . . . . . . . . . . . . . . . . 2Note Taker . . . . . . . . . . . . . . . . . . . . 4Staples Gain . . . . . . . . . . . . . . . . . . . 5Interstate Commerce . . . . . . . . . . . . . 6Weld Done . . . . . . . . . . . . . . . . . . . 13 BY JOE CLEMENTS

BOSTON — A majorinvestment sales agree-ment being quietly ham-

mered out by the ArchonGroup has the real estategiant peddling a handful ofcommercial buildings inBoston’s booming SeaportDistrict for a price expectedto be approximately $53 mil-lion. According to industrysources, DivcoWest of San

NAI/Hunneman Plans for CRE Sales

9 Forbes Rd., Woburn MA

BY JOE CLEMENTS

CHELMSFORD — In 16 Elizabeth Dr.,Brooks Automation owned a dilem-ma—how to dis-

pose of a vacant 91,000-sf flex/office building ina climate where theworth of fallow realestate has been practi-cally nil since the 2008market crash. The solu-tion was hardly simplis-

tic, but after engaging NAI/HunnemanCommercial Co. to develop one, the chal-lenge seemingly has been achieved, as evi-

denced in a new saleslisting of a buildingfully leased to TeleflexMedical.

“They are thrilled,”NAI/Hunneman CapitalMarkets specialistDouglas V. Jacoby says

BY JOE CLEMENTS

BOSTON — April is said to be the cru-elest month, but one would not feelthat way in the 2013 version were

they either a Red Sox fan or member ofCBRE/New England’s multifamily salesteam which completed a series of majortransactions from Greater Boston to

Providence and is nowapproaching $400 mil-lion for trades year-to-date.

The latest barrageranges from 62Dorchester apartmentsbought by Urban Capital

continued on page 19 Seaport District, Boston MA

Sources: DivcoWest, Synergy BuyingArchon Seaport Portfolio for $53M

Douglas V. Jacoby Michael M. McCarthy

continued on page 21

CBRE/NE Near $400M in MultiFam Tradescontinued on page 15

Schoolhouse Apartments at Lower Mills, Dorchester MA

2 THE REAL REPORTER May 3, 2013

BY MIKE HOBAN

BOSTON—If there was a message delivered at NAIOP ofMassachusetts’ 11th Annual Bus Tour this week (themedThe subURBAN transformation), it was that when compet-

ing for quality tenants, new—or at least renovated—space isdefinitely better. With the average age ofRoute 128 office buildings pushing 30 years,landlords are either making significant capitalinvestments or building new mixed-use devel-opments using the Live, Work, Play approachseen as a new design standard.

The tour highlighted a number of thosedevelopments, beginning with the NewEngland Business Center in Needham (recent-ly dubbed Needham Crossing) where the con-voy launched. The building housing the pre-tour breakfast, 37A St., (which in keeping withthe day’s theme, is scheduled to be replaced),is located in one of a park segment (Center128) being redeveloped by Normandy RealEstate Partners. The 827,000-sf project will becomprised of four new office/lab buildings withthe ground floor retail, as well as a 128-roomMarriott Residence Inn that will open “laterthis summer,” according to Normandy princi-pal Justin Krebs who also confirmed that “offi-cial or not official, we are under a letter ofintent and in negotiations with a large head-quarters location”—i.e., the long-rumored TripAdvisor—for a 285,000-sf build-to-suit. Krebsalso announced that the firm had partneredwith The Bulfinch Cos. (another owner with

significant holdings in the park) to re-brand Needham Crossingwhile also making environmental, road and signage improve-ments. “We’re very well-positioned to be able to deliver a great

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BY JOE CLEMENTS

BOSTON — As Hamilton Co. proved again this week, theAllston-based real estate firm has money to buy buildings,having picked up 134 condo-quality apartments in the

South End for $52 million, putting the firm at near $300 millionin CRE acquisitions over the past three years. Now, Hamilton isembarking on a campaign to acquire mortgages backing selectproperties, with a focus on multifamily deals.

“We think it is a good time to be buyingnotes,” Hamilton President Carl A. Valeri saysthis week. “A lot of banks and other lendersare exhausted” by historically low interestrates on properties and in seeking solutions toexisting loan pools will contribute to a wave ofdebt opportunities being made available thatHamilton intends to pursue, as it has in previ-ous cycles. In the latest go-round, however,the firm founded by apartment giant HaroldBrown has formed an actual entity, HamiltonLending Co. Valeri stresses that the intentionis to buy notes, not produce or service them,and to concentrate on the firm’s core geogra-phy, i.e. inside Route 128.

Valeri says Hamilton’s familiarity with thatarea should help in pricing debt prudently, andexpresses confidence on the chances of perse-vering in a competitive environment filled withother savvy locals. The same holds true forequity purchases, he says, although Valericharacterizes the most recent conquest a raregem that he does not anticipate will surfaceagain soon.

“It was a great developer (the late MaxKargman) and a great building, and a deal likethis doesn’t come along very often,” Valeri says

of the fully leased building that is part of a three-building condo-minium complex developed close to Northeastern University,

After $52M Apartment Buy,Hamilton Co. Taking Notes

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May 3, 2013 THE REAL REPORTER 5

BY JOE CLEMENTS

CLAREMONT, NH — The bucolic hilly landscape of thisGranite State community on the Vermont border does haveits own man-made attractions, including a ridge of retail

cutting along Washington Street, upon which sits a 23,950-sfStaples being listed through Boston Realty Advisors. The 12-year-old property at 286 Washington St. is being made availableat slightly under $3.5 million, promising investors a hefty capital-ization rate of 9.5 percent. The reason, explains retail ace

Michael d’Hemecourt, is a near-term expira-tion of the Staples contract, which has justthree years remaining. The Claremont assethas unique elements that should salve anynerves, opines d’Hemecourt, leader of BRA’sCommercial Investment Sales team.

“I think it will get really good interest,”d’Hemecourt tells the Real Reporter this weekin acknowledging the assignment as BRA con-

tinues to expand from its base in Greater Boston. North ofMassachusetts, the firm has already worked in Maine and otherparts of New Hampshire, but d’Hemecourt says Claremont is onthe map for increasing sources of capital, as evidenced by therange of known retailers lining the roadway. On top of its veryown Wal-Mart, Claremont boasts a Hannaford Supermarket andMarket Basket, plus Big Lots, Home Depot, Payless,Sears/Kmart, TJ-Maxx and VIP Auto.

One potential lure could be Vermonters hoofing it across insearch of tax-free savings, with the Staples said to do a briskbusiness from those seeking products including furniture andtechnology found at the only office superstore within a 20 mileloop and a mere five miles from Vermont. “The site has excel-lent, street visibility,” d’Hemecourt adds of the two-acre parcel.

Given all that, d’Hemecourt says there is a reasonable chanceStaples will opt to renew one of its three options that eachextend five years when the clock hits September 2016, some-thing which would give the buyer carefree cash flow from theoffice superstore whose revenues hit $24 billion last year. Werea deal not attained, the real estate is expected to remain attrac-tive in a stretch where new construction has been slow torebound since the recession, benefitting in-place assets. n

BRA Tabbed to MarketNet-Leased NH Staples

Staples, Claremont NH

Michael d’Hemecourt


MANCHESTER, NH — Colliers Interna-tional of Boston this week extended thefull-service real estate firm’s reach

north of the Massachusetts border, entering New Hampshire viaa partnership with the former office of Grubb & Ellis of NorthernNew England. Robert Rohrer, managing director of transactionservices in the Manchester office, says that teaming up with theColliers office is strategically prudent for both sides due to avariety of reasons.

“From a culture point of view and from a services point ofview, it was just a good match,” Rohrer tells the Real Reporterafter the announcement was unveiled via a press release.“They’re very much a client-first oriented firm, and as a full serv-ice company they have all of the aspects of the business that wehave and then some, so it just made sense.”

The new partnership will operate out of two locations—inManchester and Portsmouth—and its New Hampshire operationunder the Grubb flag has been offering a full spectrum of CREand asset management advice to clients in the Granite State andabutting Maine for more than 20 years. In 2012, the office (nowknown as Colliers | New Hampshire) completed 143 leases total-ing more than $37 million, brokered 29 property sales totaling$26 million, placed commercial financing in excess of $85 mil-lion, and oversaw more than 1.2 million sf under management.

“We really look forward to a great working relationship with(the new team),” says Thomas J. Hynes Jr., Co-Chairman andCEO of Colliers Boston office. “I think we’re aligned in terms ofour business units and objectives and we’ve known each otherover the years and done business with them in the past and itwas a natural fit.”

The Manchester and Portsmouth team includes four CertifiedCommercial Investment Members (CCIM), 11 commercial realestate associates, and two Certified Property Managers (CPM),as well as a team of commercial finance professionals and in-house marketing and research staff. The New Hampshire teamjoins Colliers’ 13,500 professionals in 482 offices spanning 62countries. n

Colliers Joins Forces WithGranite State Grubb Team

Thomas J. Hynes Jr.

Robert Roher

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and a real boost for the market,” says LPCVice President Rob Cronin, exclusiveagent for 9 Forbes Rd. Cronin worked withJLL’s Brian Connolly on the assignmentthat continues a robust start to 2013 forthe flex sector north of Boston. Cronin isfocused on the Wilmington/Woburn regionthat is a haven for such product so close toBoston barely 10 miles south. Woburnalone has more than one million sf of flex

and industrial product, space that isincreasingly in demand after a lengthyslide since the 2008 depression, accordingto Cronin.

“The last quarter has seen a real uptickin activity,” he says, evidenced by the traf-fic seen at 9 Forbes Rd. That view isshared by McSweeney, so much so that heexpresses optimism the remaining inven-tory will be spoken for in the comingmonths. “We have seen a lot of improve-ment in the local economy,” McSweeneyconveys, adding, “that seems to be helping

the market in a big way.”At City North

Development, McSweeney and Gordonhave focused on triple-net real estate suchas 9 Forbes Rd. this decade. The founderof the Store 24 convenience store chain,Gordon launched his Haverhill-basedinvestment company in 2002, securing theWoburn deal for $7.47 million when theyarranged a sale/leaseback pact with AzureDynamics, a firm which alarmingly wentbankrupt shortly thereafter, leaving the

9 Forbes Rd., Woburn MA



Rob Cronin

Gerald McSweeney

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The Real Reportcontinued from page 1

A P R I L 2 6 T H

MTG: $6,031,000 from Greystone Servicing Corp.ADD: 41 and 43 Bay State Rd. BostonBORROWER: Symphony Bay Properties LLC,managed by Anwar Faisal

BUYER: 127 St. Botolph Street LLC, managedby Copley Development & ManagementSELLER: Lynx Botolph LLC, mgd. by Janet DoylePRICE/ADD: $3,650,000; 127 St. Botolph St., BostonNOTES: Multifamily property, const. 1920; seven-plusunits; building size is 6,700 sf, lot size is 2,500 sf; sell-er’s family ownership in property dates to May 1977

MTG: $2,632,000 from HinghamInstitution for SavingsADD: 302-304 Whiting St., HinghamBORROWER: John A. Woodin, trustee of 302-304 Whiting Street LP

BUYER: Hanover Automotive Properties LLC,managed by William M. McLaughlinSELLER: M And S Limited Partnership, man-aged by Donald R. Smith, presidentPRICE/ADD: $2,400,000; 1988 WashingtonSt., HanoverMTG: $1,920,000 from Merchants BankNOTES: Industrial property, constructed 1993;auto repair shop; building size is 3,900 sf, lot sizeis one acre; last sold for $1,403,000 in May 2003

MTG: $1,300,000 from East Cambridge SBADD: 28-32 Centre St., a/k/a 28-38 CenterSt.,Watertown BORROWER: EuSocial Development LLC,managed by David L. Aposhian

MTG: $1,150,000 from Pilgrim BankADD: 22 Dwight St., BostonBORROWER: AEP LLC, mgd. by Alexandra Demeter

BUYER: Carol Ann Gately and John P. GatelyJr., trustees of CAP Realty TRSELLER: 45 Meeting House Lane Realty LLC,managed by Frank A. SullivanPRICE/ADD: $1,050,000; 45 Meeting HouseLn., BourneMTG: $600,000 from Hingham Institutionfor SavingsNOTES: Retail property; building size is 6,000sf, lot size is 1.5 acres; last sold for$1,050,000 in Dec. 1999

BUYER: SDI LLC, managed by Disston Co.SELLER: RHD Realty LLC, managed by KendallJ. Walsh IIIPRICE/ADD: $1,050,000; 45 Plainfield St., ChicopeeNOTES: Industrial/flex property, constructed1965; building size is 129,750 sf, lot size is 4.5acres; last sold for $2,084,510 in June 2004

MTG: $1,000,000 from South Shore SBADD: 210 Amory St. and 146 Boylston St., BostonBORROWER: Russell A. Stewart, trustee of146-210 Stonybrook Realty TR

A P R I L 2 5 T H

MTG: $3,635,000 from Digital Federal CUADD: 431-439 Hanover St., BostonBORROWER: Dror Ashuah, trustee DD&Z Realty TR

MTG: $2,335,000 from Brookline BankADD: 7-15 Hilldale Ave., HaverhillBORROWER: Mark Dubinsky, Leonard D’Orlandoand Lisa D’Orlando, trustees of Casmo Realty TR

BUYER: Whitman Homes Inc.SELLER: Pinehills LLC, mgd. by the Green Co.PRICE/ADD: $2,400,000; Lots 15-258through and including Lots 15-268, A-238,A240 and A-241, Boatwright’s Loop, PlymouthMTG: $2,080,000 from South Coastal BankNOTES: Multiple land parcels

MTG: $2,100,000 from South Shore BankADD: 30 Tremont St., DuxburyBORROWER: Island Creek Village West LP,managed by John W. Keith

MTG: $1,250,000 from Brookline BankADD: 360-374 Broadway St., LawrenceBORROWER: Leonard D’Orlando & John Gehrischtrustees of the Governors Joint Venture Realty TR

A P R I L 2 4 T H

MTG: $46,700,000 and $82,000,000 fromHSBC Realty Credit Corp.ADD: 1 Franklin St. and 6-12 Summer St., BostonBORROWER: MP Franklin Burnham Co LLCand MP Franklin Tower Co LLC, managed byMillennium Partners

BUYER: MP Franklin Tower Co LLC, managedby Millennium PartnersSELLER: 426 Washington Street Owner LLC,managed by Vornado Realty TRPRICE/ADD: $70,000,000; 426 WashingtonSt., BostonNOTES: Purchase of partnership interests inDowntown Crossing mixed-use project

BUYER: MP Franklin Burnham CO LLC, man-aged by Millennium PartnersSELLER: 426 Washington Street Owner LLC,managed by Vornado Realty TRPRICE/ADD: $20,000,000; 426 WashingtonSt., BostonNOTES: Purchase of partnership interests inDowntown Crossing mixed-use project

MTG: $6,000,000 from Farm Credit East ACAADD: 23 Bartlett Farm Rd. and 15 SomersetLn., NantucketBORROWER: Bartlett Farm LLC, managed byJohn W. Bartlett

BUYER: ABC Commercial Properties WalthamInc., mgd. by Bharat Patel, president and treasurerSELLER: Koda Ventures Waltham I LLC, man-aged by Timothy ChamberlainPRICE/ADD: $5,425,000; 159 Overland Rd.,WalthamMTG: $3,797,500 from Northway BankNOTES: Office property, constructed 1988;building size is 30,250 sf, lot size is 10,800 sf;last sold for $4,500,000 in Nov. 2010

MTG: $2,100,000 from Avidia BankADD: 14-16 E. Springfield St., BostonBORROWER: 16 E Springfield Street LLC,managed by V. William Avanessian, Brent A.

Commercial DealsMILLION DOLLAR MORTGAGES/SALES APRIL 22 - APRIL 26, 2013


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Berc and Patrick HaydonMTG: $1,700,000 from Webster BankADD: 9 Abbotsford Rd., U-3; 39 Alpha Rd., U-2;95 Draper Rd., U-3; 7 Ferndale St., Units 7, 9Aand 9B; 18 Franklin St., Units 1 and 2; 1 LorenzoSt.; 46 Lyon St., U-1; 144 Norwell St., Units 1-3,Boston; and 21 Staples Rd., U-47, EverettBORROWER: Equity Builders LLC, managed byThia M. Philbin

MTG: $1,375,000 from Brookline BankADD: 4-12 and 16-18 Elm St., and 711-723Somerville Ave., SomervilleBORROWER: Leonard D’Orlando and JohnGehrisch, trustees of Treo Joint Venture Realty TR

MTG: $1,175,000 from Scituate Federal SBADD: Lot 2 Hawley Rd.; and Lots 4, 5 and 6Irving Rd., ScituateBORROWER: Marvel Homes LLC, managed byPaul L. Sheerin

MTG: $1,100,000 from TD BankADD: 160 Commercial Ave., Units 3 and 3A, BostonBORROWER: Ivy Street Investments LLC, man-aged by Andrea Piatt

MTG: $1,000,000 from Rockland Trust Co.ADD: 2527 Cranberry Highway, Units B1-UB-3; U-C1-UC3; U-D1-D3; and E, WarehamBORROWER: W. Scott Cubellis

A P R I L 2 3 R D

BUYER: Storage Pros Franklin LLC, managed byLB Acquisitions LLC, David Levenfeld, managerSELLER: Edgar R. Alger III, Joyce Haseotes and JuliusNicolai, trustees of the Byron Haseotes Living TRPRICE/ADD: $3,760,000; 14 Grove St., FranklinMTG: $3,750,000 from Eastern BankNOTES: Industrial property, constructed 1969;building size is 84,000 sf, lot size is 2.1 acres;last sold for $640,000 in Dec. 1985

BUYER: Hecht Shrewsbury LLC, managed byKenneth W. HechtSELLER: Douglas Smith, Frederick Smith andStuart M. Smith, trustees of D&S Real Estate TRPRICE/ADD: $2,500,000; 910 Boston Tpk.,Shrewsbury MTG: $1,825,000 from Salem Five Cents SBNOTES: Industrial property; lot size is 3.79acres; last sold for $1,100,000 in Dec. 1992

BUYER: 93 Hillside LLC, managed by Mark LeplerSELLER: Noreen E. LoughranPRICE/ADD: $1,503,000; 170 St. AlphonsusSt., RoxburyMTG: $1,320,000 from Cambridge Savings BankNOTES: Three-decker, constructed 1905; build-ing size is 4,725 sf, lot size is 3,800 sf; seller

inherited property in Jan. 1987BUYER: 294 Harvard Street LLC and 50 MysticAvenue LLC, both mgd. by Derek R. StephensSELLER: W.F. Lacey & Sons Co., managed byLori Ann Lacey, presidentPRICE/ADD: $1,305,000; 50 Mystic Ave., MedfordMTG: $1,500,000 from Brookline BankNOTES: Industrial service shop; building size is15,275 sf, lot size is 39,475 sf

MTG: $1,000,000 from RBS CitizensADD: 88 Sleeper St., BostonBORROWER: Scott Garvey and Stuart J.Vidockler, trustees of Rushlight Real Estate TR

A P R I L 2 2 N D

MTG: $9,500,000 from Salem Five Cents SBADD: 90 Middlesex Tpk., BurlingtonBORROWER: Paul A. Calvo, trustee of R.C. Trust

BUYER: 881 Second Street LLC, managed byPeter J. De ClercqSELLER: J&E Realty TR, managed by Jason PennPRICE/ADD: $866,000; 881 E. Second St., BostonMTG: $6,633,475 from First Commons BankNOTES: Land parcel; lot size is 12,500 sf; lastsold for $325,000 in Dec. 1982

BUYER: 206 West Brookline Properties LLCSELLER: Christopher R. YensPRICE/ADD: $2,150,000; 206 West BrooklineSt., BostonNOTES: Multifamily property, constructed1899; four- to six units; building size is 4,750sf, lot size is 1,150 sf; seller’s family ownershipin property dates to July 1973

MTG: $2,116,923 from First Commons BankADD: 37, 39 and 41 P St., Boston

BORROWER: 37 P Street LLC, mgd. by Kevin HoranBUYER: 350 Squire Road LLC, managed byAlliance EnergySELLER: Global Companies LLC, managed byAndrew SlifkaPRICE/ADD: $2,000,000; 350 Squire Rd., RevereMTG: $1,584,000 from Northern B&T Co.NOTES: Retail property, const. 1991; building sizeis 1,025 sf, lot size is 23,475 sf; property acq. byseller in Sept. 2010 as part of four-building portfolio

MTG: $1,925,000 from Bank of AmericaADD: 232 Main St., BarnstableBORROWER: Wayne Kurker, trustee 232 MainStreet Realty TR

BUYER: Iandoli Properties LLC, managed byWilliam J. IandoliSELLER: Cheryl Deschenes and Patricia Fellman PRICE/ADD: $1,700,000; 51 Man Mar Dr.,PlainvilleMTG: $1,360,000 from Rollstone B&T NOTES: Single-story flex property, const. 2005;seven units; building size is 13,325 sf, lot size is 1.2acres; property last sold for $115,000 in Jan. 2004

BUYER: Wales Village LLC, mgd. by Nathan WeissSELLER: Wales Brookside Village LLC, man-aged by Raymond AntonacciPRICE/ADD: $1,312,500; 199 Stafford Rd., WalesMTG: $1,050,000 from Dime BankNOTES: Land parcel and mobile home park;lot size is 21.5 acres; property last changedhands in Jan. 1964

MTG: $1,140,000 from Digital FederalCredit UnionADD: 436 Marrett Rd., LexingtonBORROWER: Autobahn Engineering LLC,

Commercial DealsMILLION DOLLAR MORTGAGES/SALES APRIL 22 - APRIL 26, 2013

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A P R I L 2 6 T H

BUYER: Bernadine Caruso and Michael CarusoSELLER: Annabell Washburn, general partnerof The Stanley Washburn Jr. Family Partners LPPRICE/ADD: $2,900,000; 101 South WaterSt., EdgartownNOTES: Single-family historic property, con-structed 1890; house size is 2,550 sf, lot size is1.1 acres; four bedrooms and 3.5 baths; seller’sfamily ownership in property dates to May 1975

MTG: $2,630,000 from Cambridge Trust Co.ADD: 25-27 Reservoir St., CambridgeBORROWER: Philip Y. DeNormandie andErnestine N. Rathborne

BUYER: Scott CarmelSELLER: Redco Properties, mgd. by Elsa ReddishPRICE/ADD: $2,550,000; 69 Windsor Rd., NeedhamMTG: $2,000,000 from First Republic BankNOTES: Single-family Colonial, constructed2012; house size is 6,375 sf, lot size is one acre;six bedrooms, six baths and two half-baths;property last sold for $725,000 in Dec. 2011

BUYER: Sanjiv MirchandaniSELLER: Jim Yong Kim and Younsook LimPRICE/ADD: $1,512,500; 1 Charles St. South,U-1204, BostonMTG: $500,000 from JPMorgan Chase BankNOTES: Unit in high-rise condo; unit size is 1,700 sf;three bedrooms and three baths; unit last sold for$1,550,000 in Sept. 2005; Declaration of Homestead

BUYER: The Toofi LLC, managed by Waleed A.Al Zamil, Kingdom of BahrainSELLER: Young Chool YooPRICE/ADD: $1,350,000; 2 Avery St., U-31G, BostonNOTES: Unit in high-rise condominium; unitsize is 1,250 sf; one bedroom and two baths;unit last sold for $1,155,000 in June 2005

BUYER: Jean Qi Qiu and Danlin WuSELLER: Province Development Partnership,managed by the Abbey GroupPRICE/ADD: $1,290,000; 45 Province St., U-1805, BostonMTG: $1,016,000 from Wells Fargo BankNOTES: New unit in 45 Province Condominium;unit size is 1,300 sf; two bedrooms and two baths

BUYER: Jennifer V. DoranSELLER: Travis FarncombePRICE/ADD: $1,220,000; 409 Beacon St.,U-PH, BostonMTG: $976,000 from Bank of AmericaNOTES: Unit in low-rise condominium; unitsize is 1,475 sf; two bedrooms and two baths;unit last sold for $1,300,000 in May 2009;Declaration of Homestead

BUYER: Caitlin S. Cann and Christian M. CannSELLER: Alice Erickson and Kenneth EricksonPRICE/ADD: $1,215,000; 45 Monument Ave.,BostonMTG: $972,000 from Leader MortgageNOTES: Single-family brick Rowhouse, con-structed 1871, renovated 1997; house size is1,750 sf, lot size is 1,125 sf; six bedrooms andthree baths; last sold for $230,000 in April 1985

BUYER: Eric Goldberg and Jose MenoyoSELLER: Daniel Santangelo & Joseph Santangelo,trustees of Santangelo Love Lane Realty TRPRICE/ADD: $1,150,000; 72 Love Ln., WestonMTG: $2,520,000 from Wellesley BankNOTES: Single-family, constructed 2013;house size is 10,000 sf, lot size is 1.5 acres;five bedrooms and eight baths; portion ofproperty acquired by seller for $800,000 inApril 2012; Declaration of Homestead

BUYER: Jiayi Li and Jun Liu SELLER: Denise Merullo and Joseph MerulloPRICE/ADD: $1,100,000; 42 Victoria Rd., Sudbury MTG: $202,317.50 from the President andFellows of Harvard College and $465,750from Guaranteed RateNOTES: Single-family Colonial, constructed2009; house size is 4,200 sf, lot size is oneacre; five bedrooms and 3.5 baths; propertylast sold for $420,000 in June 2007;Declaration of Homestead

BUYER: Steedman L. Bass, trustee of Bass 32Appleton Realty TRSELLER: Arline Sutherland & Jeffrey Sutherland PRICE/ADD: $1,030,000; 32 Appleton St.,SomervilleNOTES: Single-family, constructed 1930; housesize is 3,400 sf, lot size is 2,300 sf; three bed-rooms and 2.5 baths; last sold for $724,000 inMay 2002; Declaration of Homestead

BUYER: Daniel Tarsy and Louise TarsySELLER: Catha Hesse and John R. Hesse, a/k/aJack HessePRICE/ADD: $1,006,112; 16 Davis Brook Dr.,U-13, NatickMTG: $300,000 and $504,000 from FirstRepublic BankNOTES: Townhome unit in low-rise condomini-um; unit size is 4,000 sf; four bedrooms and3.5 baths; unit last sold for $1,320,913 in May2003; Declaration of Homestead

A P R I L 2 5 T H

BUYER: 46 Suffolk Road LLC, managed byJeffrey BirnbaumSELLER: Harriet H. Shields and R. RobertWoodburn, trustees of the HaffenrefferChestnut Hill Realty TRPRICE/ADD: 46 Suffolk Rd., NewtonMTG: $3,700,000 from The Village Bank

Residential DealsMILLION DOLLAR MORTGAGES/SALES APRIL 22 - APRIL 26, 2013

An historic single-family home in Concord has changed hands for $1,115,000 as Bruce K. Walker andFrances M. Walker acquire 201 Lexington Rd. in Concord from Deborah P. Clark and Hilary P. Clark,whose ownership in the property dates back to Nov. 1968. The Walkers financed their purchase of the4,250-sf, six-bedroom home with an $836,250 loan from Mortgage Network.



NOTES: Single-family Colonial, constructed1911; house size is 4,575 sf, lot size is 2.5acres; six bedrooms and 4.5 baths; sellers’ fam-ily ownership in property dates to Nov. 1975

BUYER: Speedwagon Partners, managed byJason BrickmanSELLER: Maria P. ShieldsPRICE/ADD: $550,000; 10 High St., WinchesterMTG: $2,750,000 from Anna M. GouldNOTES: Land parcel; lot size is 20,625 sf; *mortgagealso covers 8 High St., Winchester, a 12,000-sf landparcel acquired on April 25th, 2013, for $550,000

BUYER: Margaretta N. EggerSELLER: Donald MacDougall & Susan MacDougallPRICE/ADD: $2,000,000; 5 Beard Way, WellesleyMTG: $1,000,000 from First Republic BankNOTES: Single-family Colonial, constructed2004; house size is 6,725 sf, lot size is; sixbedrooms, six baths and two half-baths; lastsold for $2,825,000 in May 2006

BUYER: Patrick Buchanan and Tanya BuchananSELLER: Mary Sullivan and Michael SullivanPRICE/ADD: $1,842,000; 14 Rust Way, CohassetMTG: $1,381,500 from First Republic BankNOTES: Single-family, const. 1956: house size is5,400 sf, lot size is 1.1 acres; four bedrooms and4.5 baths; last sold for $1,870,000 in Dec. 2009

MTG: $1,430,000 from Winchester Savings BankADD: 24 Dunes Rd., HarwichBORROWER: Edwin Wallace and Lisa Wallace

BUYER: Zhora Anabelle Desangles Gonzalezand Atle Skalleberg SELLER: 9 Columbus Square LLC, managed byDavid L. GoldmanPRICE/ADD: $1,400,000; 9 Columbus Sq., U-1, BostonMTG: $120,000 from USAlliance FederalCredit Union and $1,000,000 fromResidential Mortgage ServicesNOTES: New unit in low-rise condominium;unit size is 1,950 sf; two bedrooms and twobaths; Declaration of Homestead

BUYER: Carolyn McKibbin and Glen Petraglia SELLER: David Spellman and Lizabeth SpellmanPRICE/ADD: $1,305,525; 750 Chestnut St.,NeedhamMTG: $979,100 from First Republic BankNOTES: Single-family Cape, constructed 1981;house size is 2,425 sf, lot size is 3.3 acres; fourbedrooms and 3.5 baths; Declaration of Homestead

BUYER: Mariana Hartshorn SELLER: Ruth D. Lipman, f/k/a Ruth D. Warrenand Jerome H. Warren

PRICE/ADD: $1,257,000; 72 Salisbury Rd., BrooklineMTG: $875,000 from First Republic BankNOTES: Single-family Colonial, constructed 1925;house size is 2,625 sf, lot size is 5.025 sf; fourbedrooms and 3.5 baths; last sold for $443,800in June 1995; Declaration of Homestead

BUYER: Gregory Salvatore & Joanne Salvatore SELLER: Francois J. RappardPRICE/ADD: $1,247,500; 10 Charlesgate EastU-103, BostonMTG: $750,000 from Blue Hills BankNOTES: Unit in mid-rise condominium; unitsize is 1,850 sf; four bedrooms and 2.5 baths;unit last sold for $615,000 in Feb. 1999

MTG: $1,230,000 from First Republic BankADD: 5 Clay Pit Rd., Aquinnah BORROWER: Matthew Burlage and Miki Yoshino

BUYER: Oded Kadosh and Ruvanne KadoshSELLER: Susan L. KarlsonPRICE/ADD: $1,175,000; 106 Addington Rd.,U-2, BrooklineMTG: $881,200 from Hudson City SBNOTES: Unit in low-rise condominium; unitsize is 2,725 sf; four bedrooms and threebaths; seller inherited unit in June 1982;Declaration of Homestead

BUYER: Anastasios Skafidas and Sarah SkafidasSELLER: Kevin M. Bell and Teresa R. BellPRICE/ADD: $1,100,000; 40 Presidential Dr.,Southborough MTG: $880,000 from Mortgage MasterNOTES: Single-family Colonial, constructed 1994:house size is 6,000 sf, lot size is 3.1 acres; fivebedrooms and 4.5 baths; last sold for $910,000in Aug. 2000; Declaration of Homestead

MTG: $1,100,000 from WCS LendingADD: 10 Livingston Rd., WellesleyBORROWER: Cristina S. Heiden and WilliamK. Heiden

BUYER: Jennifer Bonniwell & Kent BonniwellSELLER: Brian Broderick & Cathleen Broderick PRICE/ADD: $1,100,000; 108 Forest St., Wellesley MTG: $465,000 from Wellesley BankNOTES: Single-family Colonial, constructed1923, renovated 1999; house size is 4,025 sf,lot size is 15,925 sf; five bedrooms and 3.5baths; last sold for $1,360,000 in Oct. 2006;Declaration of Homestead

BUYER: Jennifer Gillooly and Robert Gillooly SELLER: Barbara Bulman and Kevin BulmanPRICE/ADD: $1,050,000; 18 Jarvis Ave., HinghamMTG: $840,000 from TD BankNOTES: Single-family Colonial, constructed1986; house size is 3,800 sf, lot size is 20,050sf; four bedrooms and four baths; sellersacquired property for $100,000 in April 1986;Declaration of Homestead

A P R I L 2 4 T H

BUYER: Diane Hirshberg and James HirshbergSELLER: Delaporte Development Inc., man-aged by Gwen D. SimpkinsPRICE/ADD: $2,845,000; 108 Nehoiden Rd.,NewtonMTG: $1,065,000 from Institution forSavings in Newburyport and Its VicinityNOTES: Single-family, constructed 2013; housesize is 5,400 sf, lot size is one acre; five bedroomsand six baths; property last sold for $1,610,000in Oct. 2012; Declaration of Homestead



Jean Qi Qiu and Danlin Wu are the newest owners of a luxury condominium at 45 Province St., the high-rise residential tower developed in Boston’s Downtown Crossing by the Abbey Group. Unit 1805 fetched$1,290,000, with financing of $1,016,000 provided by Wells Fargo Bank.The 1,300-sf unit has two bed-rooms and two baths.



MTG: $2,730,000 from First Republic BankADD: 19 Old Neck Rd., Manchester-by-the-SeaBORROWER: Louisa D. Attenborough andNeale T. Attenborough

MTG: $2,450,000 from BMO Harris BankADD: 73 Bridge St., Manchester-by-the-SeaBORROWER: Nicola Savignano and WhitneyR. Savignano

BUYER: Vartan Keshishian and Seda Ebrahimi-KeshishianSELLER: Susan Roosevelt WeldPRICE/ADD: $3,500,000; 28 FayerweatherSt., CambridgeMTG: $2,000,000 from Cambridge SBNOTES: Single-family, constructed 1882; housesize is 6,750 sf, lot size is 23,125 sf; eight bed-rooms and 4.5 baths; last sold for $150,000 inFeb. 1976; Declaration of Homestead

MTG: $1,727,000 from TD BankADD: 172 West Brookline St., BostonBORROWER: Melissa Burke and JamesEdward Phillips III

MTG: $1,600,000 from Bank of MaineADD: 60 Fair St., NantucketBORROWER: Debra B. Treyz

MTG: $1,319,000 from Morgan StanleyPrivate BankADD: 14 Hallet Ln. and 201 Main St., ChathamBORROWER: Elizabeth F. Sommer and KennethF. Sommer, trustees of Sommer Family TR

BUYER: Jeffrey Do and Alison SpillaneSELLER: Donald Scott Batty Jr. and Jean Z.BattyPRICE/ADD: $1,225,000; 58 Bacon St.,WinchesterMTG: $450,000 from Bank of AmericaNOTES: Single-family Colonial, constructed 1925;house size is 5,100 sf, lot size is 12,775 sf; sevenbedrooms and four baths; Declaration of Homestead

BUYER: Andrea L. WilliamsSELLER: Sylvia V. DavatzPRICE/ADD: $1,185,000; 176-178 AppletonSt. CambridgeMTG: $1,000,000 from Elizabeth H.WilliamsNOTES: Two-family, constructed 1927; build-ing size is 2,550 sf, lot size is 7,425 sf; lastsold for $140,000 in Aug. 1982; Declaration ofHomestead

MTG: $1,087,500 from JP Morgan Chase BankADD: 195B Hummock Pond Rd., NantucketBORROWER: Michael C. Krinsky

A P R I L 2 3 R D

MTG: $3,000,000 from First Republic BankADD: 90 Sargent Rd., BrooklineBORROWER: Jeffrey Leerink and Kristi Leerink

BUYER: Rebecca Kotkin and Donald SteinbergSELLER: Thomas E. Peckham, trustee of 119Warren Avenue Nominee TRPRICE/ADD: $2,422,500; 119 Warren Ave., BostonMTG: $1,938,000 from CitibankNOTES: Single-family brick Rowhouse; housesize is 2,675 sf, lot size is 1,075 sf; four bed-rooms and 3.5 baths; last sold for $1,650,000in March 2010; Declaration of Homestead

MTG: $2,307,500 from Bank of AmericaADD: 98 Pembroke St., BostonBORROWER: Laurence Turka and Barbara Weber

BUYER: Alexandra Hovaguimian andChristopher KetchamSELLER: Andrew P. Hartshorn and Mariana A.HartshornPRICE/ADD: $2,094,000; 32 Kennard Rd.,BrooklineNOTES: Single-family Colonial, constructed1900; house size is 3,850 sf, lot size is 20,825sf; five bedrooms and 3.5 baths; last sold for$1,760,000 in June 2009

MTG: $1,460,000 from East Boston SBADD: 9 Francis St., BrooklineBORROWER: Chi-Chi Liao

MTG: $1,338,000 from Mortgage MasterADD: 140 West Canton St., BostonBORROWER: William T. Curry Jr. and RebeccaNordhaus

BUYER: Edward Lee Perry & Slocumb Hollis Perry SELLER: Charles Henry, Snowden Henry, SarahH. Lederman and Elizabeth F. Potter, trustees ofthe Allandale Road Nominee TRPRICE/ADD: $1,285,000; 200 Allandale Rd.,U-214-A, BostonNOTES: Unit in low-rise AllandaleCondominium; unit size is 7,175 sf; four bed-rooms, three baths and three half-baths; sellersinherited unit in March 1997

MTG: $1,261,000 from Hancock BankADD: 69 Mattapoisett Neck Rd., MattapoisettBORROWER: Dale Barnes and James Barnes

MTG: $1,050,000 from Rockland Trust Co.ADD: 89 Plymouth Ave., MarshfieldBORROWER: Jane Tomeo and Paul A. Tomeo

MTG: $1,000,000 from First Republic BankADD: 75 Pinckney St., BostonBORROWER: Brigitte Moufflet and GerardMoufflet

MTG: $1,000,000 from Bank of AmericaADD: 139 Abbott Rd., WellesleyBORROWER: Elizabeth A. Gilbert-Bono,trustee of 139 Abbott Road Realty TR



Emanuel Friedman has acquired Unit 506 at 1600 Beacon St., a high-rise condominium betweenCoolidge Corner and Washington Square in Brookline. The 1,100-sf, two bedroom unit was purchasedfrom Kenwood Investment LLC, an entity managed by Gennady Korchmar and Boris Kutikov for$725,000 in May 2010.



MTG: $1,000,000 from Cambridge Trust Co.ADD: 330 Lowell Rd., ConcordBORROWER: Lucille McBride and Robert McBride

A P R I L 2 2 N D

BUYER: Ronald P. O’Hanley IIISELLER: Diane Hirshberg and James Hirshberg PRICE/ADD: $4,150,000; 500 CommercialSt., Units C1 and C2, BostonMTG: $2,000,000 from Sovereign BankNOTES: Combined units in low-rise condo-minium; combined unit size is 3,450 sf; twobedrooms and three baths; units last sold for$3,600,000 in Jan. 2008

BUYER: Mark Walker, trustee 606 WatermarkRealty TRSELLER: Thomas J. Niedermeyer Jr.PRICE/ADD: $3,000,000; 2400 Beacon St., U-PH 606, BostonNOTES: Unit in mid-rise condominium; unitsize is 3,075 sf; three bedrooms and 2.5 baths;unit last sold for $2,495,500 in March 2007

BUYER: John S. PepperSELLER: Frank P. Panayotou, trustee of YankeeClipper Realty TRPRICE/ADD: $2,445,000; 2 Avery St.,U-20C, BostonMTG: $1,021,875 from Bank of AmericaNOTES: Unit in high-rise condominium; unitsize is 2,700 sf; three bedrooms and 3.5 baths

BUYER: Lisa Josephson and Michael Josephson SELLER: Lavinia Chiotellis and Philip ChiotellisPRICE/ADD: $2,260,000; 2 Avery St., U-31D,BostonNOTES: Unit in high-rise condominium; unitsize is 1,600 sf; two bedrooms and 2.5 baths;unit last sold for $1,785,000 in June 2003

BUYER: Alexander MeissnerSELLER: Baker Pond LLC, managed by DuncanMacArthurPRICE/ADD: $2,050,000; 134 Larch Rd., CambridgeMTG: $1,198,000 from Bank of AmericaNOTES: Single-family, constructed 1926; housesize is 2,650 sf, lot size is 6,075 sf; four bed-rooms and 4.5 baths; last sold for $850,000 inOct. 2007; Declaration of Homestead

BUYER: 70 Collins Road LLC, managed by DanielMcDonough, Gerard McDonough and John TopalisSELLER: William T. Peake, trustee of the CollinsRoad Nominee TRPRICE/ADD: $875,000; 70 Collins Rd., NewtonMTG: $1,831, 250 from Rockland FederalCredit Union

NOTES: Single-family Split-level, constructed1953; house size is 2,825 sf, lot size is 15,050sf; three bedrooms and three baths; selleracquired property for $50,000 in Aug. 1967

BUYER: David Glazer SELLER: James P. Carrigan and Ruth L. KilduffPRICE/ADD: $1,500,000; 6 Washington St.,CharlestownMTG: $1,000,000 from MSA MortgageNOTES: Single-family brick Rowhouse, con-structed 1870, renovated 1998; house size is3,050 sf, lot size is 1,100 sf; four bedrooms, twobaths and two half-baths; last sold for $530,000in March 1995; Declaration of Homestead

MTG: $1,500,000 from Enterprise Bank &Trust Co.ADD: 180 Ivy St., BrooklineBORROWER: Diane Gordon and Lloyd Gordon

BUYER: Louis D. MaiuriSELLER: Christine Paradis and Kenneth ParadisPRICE/ADD: $1,300,000; 38 Winding OaksWay, BoxfordMTG: $975,000 from Winchester SavingsBankNOTES: Single-family Colonial, constructed2001; house size is 6,050 sf, lot size is sixacres; four bedrooms and 4.5 baths; last soldfor $1,455,000 in Nov. 2004; Declaration ofHomestead

BUYER: Todd Basnight and Toinette S. RivasSELLER: H. Roderick NordellPRICE/ADD: $1,400,000; 25 Meadow Way,CambridgeMTG: $1,120,000 from First Republic BankNOTES: Single-family Colonial, constructed1926; house size is 3,175 sf, lot size is 8,075sf; four bedrooms and 3.5 baths; selleracquired property in Nov. 1969

BUYER: Robert R. McanawSELLER: Greg Schmergel and JoannaSchmergelPRICE/ADD: $1,310,000; 99 Paulson Rd., NewtonMTG: $910,000 from Cambridge MortgageGroupNOTES: Single-family Colonial, constructed1950; house size is 3,600 sf, lot size is 12,925sf; five bedrooms and 2.5 baths; last sold for$687,150 in Oc. 1998;

BUYER: Daniel J. Braz and Sara F. BrazSELLER: J. Derenzo & Associates LLC, man-aged by Jay DerenzoPRICE/ADD: $1,310,000; 223 Manning St.,NeedhamMTG: $1,000,000 from Bank of AmericaNOTES: Single-family Colonial, constructed2012; house size is 4,500 sf, lot size is 10,300sf; five bedrooms and 4.5 baths; property lastsold for $469,000 in Oct. 2011




The Cambridge home of former Massachusetts Governor William Weld has sold for $3,500,000 to VartanKeshishian and Seda Ebrahimi-Keshishian, who financed the acquisition of 28 Fayerweather St. with a$2,000,000 mortgage from Cambridge Savings Bank. The 6,750-sf residence that was built in 1882 has6,750 sf with eight bedrooms and 4.5 baths. Susan Roosevelt Weld is listed on the deed transfer for aproperty that last changed hands for $150,000 in Feb. 1976.


BUYER: Stephen J. BaldiniSELLER: Denee M. Hammonds, f/k/a Denee M.Hammonds-DiNardo, and James A. DiNardoPRICE/ADD: $1,170,000; 673 Belford St., ConcordMTG: $600,000 from Wells Fargo BankNOTES: Single-family Colonial, constructed 2006;house size is 3,575 sf, lot size is 21,775 sf; fourbedrooms and 3.5 baths; last sold for $1,340,000in March 2007; Declaration of Homestead

BUYER: Emanuel Friedman, trustee of DEJRealty TRSELLER: Kenwood Investment LLC, managedby Gennady Korchmar and Boris KutikovPRICE/ADD: $1,150,000; 1600 Beacon St., U-506, BrooklineNOTES: Unit in high-rise condominium; unitsize is 1,100 sf; two bedrooms and two baths;unit last sold for $725,000 in May 2010

BUYER: Bruce J. Walker and Frances M. WalkerSELLER: Deborah P. Clark and Hilary P. ClarkPRICE/ADD: $1,115,000; 201 Lexington Rd.,ConcordMTG: $836,250 from Mortgage NetworkNOTES: Single-family Antique, constructed1868; building size is 4,250 sf, lot size is oneacre; six bedrooms and 5.5 baths; sellers’ fami-ly ownership in property dates to Nov. 1968;Declaration of Homestead

MTG: $1,085,000 from Boston PrivateBank & Trust Co.ADD: 4 Battery Wharf, U-4508, BostonBORROWER: Rosalie Mucci

BUYER: Caroline WoodwardSELLER: Eileen BrooksPRICE/ADD: $1,027,000; 189 Mildred Ln., ConcordMTG: $822,000 from Wells Fargo BankNOTES: Single-family Colonial, constructed 1995;house size is 3,050 sf, lot size is 1.7 acres; four

bedrooms and 3.5 baths; last sold for $922,000in June 2002; Declaration of Homestead

MTG: $1,023,000 from Mortgage MasterADD: 8 Kirkland Cir., WellesleyBORROWER: Carrie Reepmeyer & William Reepmeyer



A $1,000,000 mortgage from Bank of America has enabled Daniel J. Braz and Sara F. Braz to buy 223Manning St. in Needham, a new single-family Colonial purchased for $1,310,000 from J. Derenzo &Associates, an entity managed by Jay Derenzo. Set on a 10,300-acre parcel near Needham High School,223 Manning St. has five bedrooms and 4.5 baths in its expansive 4,500-sf frame.

structure fallow. Cronin praises its stew-ards for quickly reacting in a manner thathas not only landed Comcast, but enticedmultiple other prospects vying for theremaining 48,000 sf that can be subdivid-ed to increments of 20,000 sf. Cronin cred-its a rebounding economy for reviving theflex/industrial market wallowing for thebetter part of five years.

Having once overseen leasing at theShoe, a massive mixed-use complex inBeverly owned by former employerCummings Properties, McSweeney offersa calm demeanor regarding the woes involv-ing 9 Forbes Rd.’s former occupant. CityNorth ultimately would have undertaken a

series of capital improvements regardless ofAzure’s situation, explains McSweeney. “Itjust accelerated our plans a little bit,” hesays. “We just did things more quickly thanwe might have otherwise, and now that ispaying off . . . We’re very happy with wherethings are right now.”

Cronin says the quality of Comcast onthe tenant roster should improve theasset’s image, and combines with theproven ownership and physical renova-tions to make the leasing pitch even moreconvincing. Comcast “is a nice win for thebuilding, and we just want to have a fewmore like it and we will be all set,” saysCronin. Terms of the Comcast deal werenot divulged beyond its length. Thetelecommunications giant is locatingemployees from an existing facility north

off Interstate 93 in Wilmington.Comcast will be moving into 9 Forbes

Rd. over the summer. Architectural designfor the renovations are being provided byWoburn-based WorldTech Engineering.One of its principals is MichaelPascavage, a registered architect and for-mer colleague of McSweeney’s atCummings Properties. n

The Real Reportcontinued from page 7

The Real ReporterVOLUME 5, NUMBER 9

© 2013 The Real Reporter, LLC. Ten Post OfficeSquare, Boston MA 02109, 617-692-2997. Allrights reserved. No part of this publicationmay be reproduced without the written con-sent of the publisher.

ADVERTIS ING INFO: [email protected]


of Brooks regarding a strategy to createthe complete opposite of 16 ElizabethDr.’s delicate condition. Jacoby’s team col-laborated with NAI/Hunneman’s Advisory

Services Group on whatthe correct type of ten-ant—and lease agree-ment—would meet thegoals of risk-averseinvestors willing to onlyconsider cash-flowing,stable opportunitieswhen delving into fringeareas such as Interstate495 North where vacan-cy rates still are hover-ing around 20 percentfor most product types.

“We were hired toget the highest price forour client, and to dothat, we needed to signa strong-credit tenant toa long-term lease tomake it attractive forinvestors,” explains ASGteam member MichaelM. McCarthy, who over-saw the campaign thatled to Teleflex commit-ting for the lengthyduration. McCarthy wasjoined by ASG col-leagues James Boudrot,Brendan Daly, Evan E.Gallagher, Stephen A.James and Jason N.Rexinis in identifyingTeleflex as a viable can-didate and then under-taking the challenge ofovercoming a trendtowards migrating clos-er to urban centers andnot farther away.

Fortunately forBrooks Automation andthe NAI/Hunnemancrew, Teleflex bought

into the alternate argument of having afacility providing for long-range growth andnot paying dramatically higher rates to bein such metropolitan hot spots as

Cambridge or Boston’s Seaport District.McCarthy is among those who maintain thedelta between pricing is ultimately going tohelp submarkets such as Interstate 495North. The Route 3 corridor off which 16Elizabeth Dr. is positioned at Exit 29 isconsidered another strength thanks to thewidening of that roadway that extends upinto southern New Hampshire. “The sub-market is much busier today,” reportsMcCarthy, noting that for all its woes, thearea surrounding Exit 29 is chock full ofwell-regarded companies from Airvana,Aspect and Brooks Automation itself to thelikes of Harris, Hittite and Kronos.

Jacoby praises the NAI/Hunneman leas-ing contingent for identifying and securingprecisely the sort of firm the CapitalMarkets Group suggested, and for makingsure clauses were not an impediment toinvestors, paying attention, for example, tolimiting the tenant’s right to match otheroffers on the asset, a stipulation that hasimpacted other recent sales transactions inGreater Boston. A 10-year commitment wasconsidered important to the effort as well.

Brooks also played a role in making 16Elizabeth Dr. appealing to Teleflex,explains McCarthy. “We had an excellentbuilding to lease,” he says. “It was takenvery good care of by its owner/user, andthat made a big difference.” Brooks, whichpaid $27.0 million for three buildingsaround its headquarters in Jan. 2001 to

facilitate its own growth, had incorporateda prized clean room area into 16 ElizabethDr., and McCarthy says that was of partic-ular interest to Teleflex. “They didn’t haveto invest a lot of money on their own,” herelays of the new tenant.

As for the sales process, Jacobyexpresses optimism that the campaign willproduce a result in a fairly quick resolu-tion, offering a measure of counsel toother owners of excess property that acoordinated effort can increase the valuein an expedited manner. NAI/Hunnemanhas been involved in the Brooks assign-ment for less than a year, and has not onlysecured the tenant, it is now hitting thesales block in time for the busy spring sea-son. To Jacoby, the idea is not an isolatedsituation; in fact, his company has alreadyreviewed other properties to see whetherthey might also benefit.

“We have sifted through a lot, and I dothink we are going to be doing more andmore of this,” says Jacoby. “In my opinion,it can make things much better for anowner who has to deal with (excess) realestate.” Joining him in peddling 16Elizabeth Dr. are Scott S. Dragos, MitchellLevey and Sean P. Ryan. “It’s exciting toknow we have created value for our ten-ant, and now it’s up to Doug and his teamto take this on the final leg of its journey,”says McCarthy. “We look forward to seeingthis through to completion.” n

NAI/Hunnemancontinued from page 1

Evan E. Gallagher

Stephen A. James

Mitchell Levey

Sean P. Ryan

Scott S. Dragos

16 Elizabeth Dr., Chelmsford MA



Corporation Directors/Registered Agents Address Nature of Business

Beauport Hospitality LLC James S. Davis and Paul R. Gauron, signatories 20 Guest St., 8th floor, Brighton MA 02135 Develop, operate and own function facilities,hotels and restaurants

Hamilton Lending Co. Harold Brown C/o the Hamilton Co. @ 39 Brighton Ave., Allston MA 02134 Acq., hold for invest., mng. & sell promissorynotes, mortgages & other financial products

THR Brooklyn Ventures LLC Mark Fuller, Rajan Hansji, Linda Kassor and 22 Batterymarch St., Boston MA 02109 Deal with potential real estate projects in Lorenz Reibling, managers Brooklyn, NY

Growth Homes South Main Street LLC Frederic H. Margolis, manager C/o Growth Cos. @ 1234 Boylston St., Chestnut Hill MA 02467 Invest in real property

Fallon Twenty Two LLC Joseph F. Fallon and Myrna Putziger, managers C/o the Fallon Co., 1 Marina Park Dr., Boston MA 02210 Dealing with interests in real estate

Credit Suisse Lending LLC Douglas J. McDonald and Mark L. Washburn, managers 11 Madison Ave., 7th floor, NYC 10010 Mortgage lending

Network Drive Lot 10 Owner LLC Peter C. Nordblom, president; Martha W. Rausch, signatory C/o Nordblom Co. @ 71 Third Ave., Burlington MA 01803 Deal in real property

1285 Beacon Investors LLC Eric D. Schlager and Robert A. Schlager, managers C/o the Bulfinch Cos. @ 250 First Ave., Ste. 200, Needham MA 02494 Buy, mortgage, operate and sell real estate

NAI Legacy Place II LLC Thaddeus Jankowski, Michael Kszystyniak, Lisa Martignetti, 846 University Ave., Norwood MA 02062 Deal with certain real property at Elm Street Shari Redstone and Sumner Redstone, signatories and Route One in Dedham, MA

Chestnut Park Apartments LLC E. Denis Walsh and Adam R. Hundley, signatories C/o Weld Management @ 112 Water St., Boston MA 02109 Acquire, develop, finance, improve, lease,operate and sell real property

IGate Mortgage Services Inc. Suresh Kumar Kunnumal, president; Karetha Dodd, secretary 6528 Kaiser Dr., Fremont CA 94555 Mortgage loan origination and servicing

CMC9 Owner LLC Diego Rico, Kashif Z. Sheikh and Cindy Woon, signatories 3300 PGA Blvd., Ste 820, Palm Beach Gardens FL 33410 Investment in real estate

Garnet Hill Wind Farm LLC Michael Rucker and Eric Simons, managers 4845 Pearl East Cir., Ste. 200, Boulder CO 80301 Wind farm development and operation

Turningpoint Development LLC Peter J. Hopley, manager 11 Carley Rd., Lexington MA 02421 Develop, lease and purchase real estate

190 Washington Street LLC Amanollah Kohanloo and Kianoosh Yazdanseta, signatories 60 Kendrick St., Needham MA 02494 Real estate management

Appleby Court Partners LLC Michael Healy, manager; Paul R. Tardif, authorized agent 72 Old Main St., South Yarmouth MA 02664 Dealing with interests in real estate

360 Mortgage Group LLC Jonathan Greco and Andrew J. WeissMalik, managers 11305 Four Points Dr., Building 1, Ste. 200, Austin TX 78726 Mortgage lending

Seaverns Avenue Investment Trust LLC Jonathan Leffell and Richard L. Tuck, managers; Principal office c/o Rosemont Trust @ 68 Harvard St., Brookline MA; Deal with certain real property at Richard J. Levin Esq., registered agent Richard J. Levin Esq. c/o Cumsky & Levin LLP @ 6 University Rd., 89 Green St., Jamaica Plain

Cambridge MA 02138

Salem Turnpike LLC Michael J. Merullo and Joseph M. Ricupero Jr., managers; Principal office @ 222 Everett St., East Boston MA; Richard J. Levin Esq., Deal with certain real property at Richard J. Levin Esq., registered agent c/o Cumsky & Levin LLP @ 6 University Rd., Cambridge MA 02138 63 Salem Turnpike, Salem MA

Matrix X Management Co. LLC Timothy A. Barrows, Joshua D. Hannah, Antonio Rodriguez, 1000 Winter St., Ste. 4500, Waltham MA 02451 Investments, including real property interestsDavid R. Skok and Dana Stalder, managers

16 Garden Road LLC Andrew Prchlik and Gary L. Shechtman, managers 197 First Ave., Ste. 300, Needham MA 02494 Buy, hold, rent and sell real estate

Linsta LLC Bruce N. Polishook, manager 121 Forest Ave., Newton MA 02465 Real estate development and investment

Princeton Services LLC Andrew M. Chaban, pres. and sec.; Howard S. Reef, treas. 1115 Westford St., Lowell MA 01851 Deal in real property

Westgug LLC Andrew M. Chaban, pres. and sec.; Howard S. Reef, treas. 1115 Westford St., Lowell MA 01851 Deal in real property

Shimha LLC David Simha and Shimon Lefkowitz, managers; Principal office @ 328 Beach 9th St., Far Rockaway NY 11691; Invest in real estate, including elder housing Crystal Bloom, resident agent Crystal Bloom @ 1 Beacon St., Ste. 1320, Boston MA 02108 and nursing homes

Elm St Investment Partners Joseph Crugnale Jr. and Joseph Crugnale Sr., managers; Principal office @ 567 Concord Ave., Belmont MA; Marco Sandonato Hold real estateMarco Sandonato, resident agent c/o Sandonato Law @ 101 Tremont St., Ste. 1015, Boston MA 02108

The Plex Sports Park LLC Donald Cameron, manager 22 Whippletree Ln., Amherst MA 01002 Indoor/outdoor sports facility

Taunton Mills LLC Russell Barnaby, Barry Ganek and Robert Palmer, managers 1 River Rd., Carlisle MA 01741 Real estate development

Cedars Realty LLC George T. Homsi and Tanios A. Homsi, managers 1864 Centre St., Ste. 4, West Roxbury MA 02132 RE development, leasing, management & sales

GM Fine LLC Robert Denisco, manager; John R. Keilty Esq., resident agent Principal office @ 7 Magnolia Dr., Lynnfield MA 01940; John R. Keilty Esq. Deal in real property@ 40 Lowell St., Peabody MA 01960

Rock Hill Farm LLC Michael P. Koshivas Jr. and Peter M. Koshivas, managers 200 Norfolk St., Holliston MA 01746 Farming operations

RCG Holland Renewal LLC Alex M. Steinbergh, manager; Thomas N. Margulis and C/o RCG LLC @ 17 Ivaloo St., Somerville MA 02143 Acquire, finance, improve, manage and Matthew Picarsic, signatories sell real property

Dynamic Real Estate Investments LLC Anne Gross Shannon and John Scott Shannon, managers 18 Barrows St., Dedham MA 02026 Commercial and residential RE activities

Pompositticut Farm Inc. Jacqueline Kane, president, treasurer and secretary 25 Lewis St., Hudson MA 01749 Agriculture & farming & dealing in real property

21 Warren Street LLC Frank M. Capezzera, manager; Marc Truant, resident agent Principal office @ 99 High St., 20th floor, Boston MA 02110; Marc Truant Deal in real propertyc/o Marc Truant and Associates Inc. @ 32 Warren St., Cambridge MA 02141

129 Newland Street LLC Dustin J. Denunzio, manager; Thomas N. Margulis, signatory 305 Cambridge St., Ste. 3, Cambridge MA 02141 Acquire, develop, finance, improve, operate and sell real property

538 Pokross LLC Roland R. Langevin Jr., manager 410 Grove St., Fall River MA 02720 Deal with real estate

Barrow Atlantic LLC Brian Wilson, manager; Peter J. Caruso II, resident agent 7 Olde Village Dr., U-1503, Salem MA 01970 Develop and manage real estate

Phoenix Properties LLC Edward E. Trunfio, manager 2 Canton St., Ste. 110, Stoughton MA 02072 Real estate

433 GW LLC Carol A. Dunphy, manager 54 Pleasant St., Hingham MA 02043 Buy, hold, own and sell real property

Massachusetts CorporationsOrganized April 22 - April 26, 2013




SKC Holdings LLC Chandramohan Abinandan, manager 18 Kestrel Ln., Westford MA 01886 Deal with real estate

Stone Holdings LLC Joan Martin Roth and Jonathan R. Roth, managers 297 Boston Post Rd., Wayland MA 01778 Real estate investments, including commercialreal estate and multifamily properties

21 Crooked Lane LLC Catherine E. Conte, mgr.; Kevin F. Dale Esq., resident agent Principal office @ 21 Crooked Ln., Nantucket MA 02554; Deal with certain real property at Kevin F. Dale Esq. @ 2 Whaler's Ln., Nantucket MA 02554 21 Crooked Ln., Nantucket

Grouts Corner Realty LLC Tammy J. Berard and Edmond C. Tolzdorf Jr., managers 9 Gunn St., Erving MA 01344 Buy, lease and sell real estate

86 Corbett Street LLC Donald A. Goyette, manager; Jessica L. French, signatory; Principal office @ 63 Treble Cove Rd., Billerica MA; Charles F. Ahern III Buy, hold, lease and sell real estateCharles F. Ahern III, resident agent c/o Corwin & Corwin @ 1 Washington Mall, Boston MA 02108

Lanark Management LLC William P. Douglas, manager 63 Carisbrooke Rd., Wellesley MA 02481 Invest in and manage real estate

DDN Properties LLC Dalia Dinno, manager; Russell N. Stein Esq., resident agent Principal office @ 50 Autumn Rd., Weston MA ; Russel N. Stein Esq. Hold, lease and operate real propertyc/o Ruberto, Israel & Weiner PC @ 255 State St., 7th floor, Boston MA

Prime Engineering Inc. Kumar Buvanendaran, president, treasurer and secretary 300 Red Brook Blvd., Ste. 410, Owings Mills MD 21117 Civil and structural engineering services

Merrimack 116 LLC Alan Kaplan and Timothy Kelleher, managers 116 Merrimack St., Lowell MA 01852 Invest in and manage income-producing RE

Deer Common II LLC Mark P. McSharry and Terrence C. Tedeschi, managers 7 Leah Dr., Rockland MA 02370 Buy, develop, finance, lease, manage and sell real property

House Tech Real Estate Inc. Lee Leslie, president, treasurer and secretary 1075 Main Ave., Ste. 227, Durango CO 81301 Real estate broker

152 Orange Street LLC Scott A. Kanter, signatory 1215 Chestnut St., Newton MA 02464 Deal in real property

Sterling Park Braintree LLC Christina J. Chadzynski and Pawel Z. Chadzynski, signatories; 61 Parkhurst St., Dunstable MA 01827 Operate and purchase real estateRichard L. Wise, signatory

Gleason Road LLC William Eycleshymer, manager 442 Fitchburg Tpk., PO Box 615, Concord MA 01742 Real estate development, management,purchase and sale of real estate

Pere's Knights of Columbus Ken Bruneau, president; Brendan Price, treasurer; Principal office @ 10 Beckler Ave., South Boston MA 02127; Non-profit engaged in the leasing, mortgaging,Building Corporation Dan McLaughlin, clerk Kevin P. Kerr Esq. @ 587 East Broadway, #1, South Boston 02127 purchasing and sale of real estate

SAG Property Management LLC Bernadette Feeney, manager; Mark B. Elefante, resident agent Principal office @ 616 Lowell Rd., Concord MA 01742; Mark B. Elefante Investments, including real property interestsc/o Hemenway & Barnes LLP @ 60 State St., Boston MA 02109

36 West LLC Donna E. Kublin and Stanley B. Kublin, managers; Principal office @ 42324 N. Stonemark Dr., Anthem AZ 85086; Lease and own real estateArthur McCabe, resident agent Arthur McCabe @ 8 Heather Dr., Andover MA 01810

130 Commonwealth Avenue LLC E-Yan Betty Lau, manager 100 Beacon St., #2B, Boston MA 02116 Buy, develop, lease, mortgage & sell real property

Carey Realty Group Inc. Robert P. Carey, president, treasurer and secretary 2 Curtis Ln., Franklin MA 02038 Buy and sell real estate

Boston Realtyweb Inc. Joseph H. Wolvek, president, treasurer and secretary 700 Harrison Ave., #315, Boston MA 02118 Real estate

Maple Leaf Ventures LLC Lara Rosenburgh, manager; Bruce Miller Esq., resident agent Principal office @ 132 Myrtle St., #5, Boston MA 02114; Real estate and interests thereinBruce Mill Esq. @ 100 Summer St., Ste. 2250, Boston MA 02110

Highgate Street LLC Dennis B. Clair and Terence P. Clair, managers C/o Advantage Real Estate @ 1066 Commonwealth Ave., Boston MA Deal in real property

Twentyhicks LLC Stephen Opremcak, Katherine Short & Phoebe Short, mgrs.; 20 Hicks Ave., U-3, Medford MA 02155 Real estate and interests thereinMarc E. Canner Esq., resident agent

Cranberry Hospitality LLC Richard L. Lafrance, manager; Johnna F. Tierney, signatory 66 State Rd., Westport MA 02790 Real estate, including hotels

119 Merriam Realty LLC Robert A. Antonioni, manager 119 Merriam Ave., Leominster MA 01453 Buy, develop, lease, mortgage and sell RE

Hawthorne Street Investment LLC Rick Costa, manager C/o New Boston Management @ 111 Everett Ave., 2nd floor, Chelsea MA Acquire, develop, hold and operate real property

Venture Real Estate Solutions LLC Annette Jerome, manager 6 Evergreen Way, U-6, Peabody MA 01960 Real estate

Lawrenceville LLC Mark R. Stebbins and Leo Xarras, managers 1359 Hooksett Rd., Hooksett NH 03106 Real estate development

Albeca LLC Francis P. Tomaiolo and Matthew F. Tomaiolo, managers 17 Rice St., Shrewsbury MA 01545 Real estate development

Treadstone Properties LLC Kevin McDonough and Lisa McDonough, managers 733 Plain St., Marshfield MA 02050 Real estate

Starboard Place LLC John E. Kavanagh, signatory 100 Conifer Hill Dr., Danvers MA 01923 Real estate development

Intergroup Realty Corp. Manoel Neto, president, treasurer and secretary 18 Pleasant View Ave., Braintree MA 02184 Full-service real estate brokerage company

77A Commercial Street LLC Maria Cirino and Lyn Plummer, managers 128 Hardy Pond Rd., Waltham MA 02451 Dealing with interests in real estate

Intuitive Real Estate Solutions LLC Ellen Martin, manager 5711 W. Slauson Ave., Ste. 170, Culver City CA 90230 Real estate appraisal company

Boston Condo LLC Jenish Patel, manager Principal office @ 3274 Rosecrans St., San Diego CA 92110; Real estate investmentsMA office @ 26 Bew Derby St., U-406, Salem MA 01970

Devine Property Group LLC Joseph F. Devine, manager 256 Cairn Ridge Rd., East Falmouth MA 02536 Real estate

15-17 A Street LLC Richard B. Goldberg, Robert L. Goldberg, Steven J. Goldberg 7 Rantoul St., Ste. 100B, Beverly MA 01915 Real estate and interests thereinand William H. Goldberg, managers

Habitat Investments LLC Carlos Trujillo, manager 83 Algonquin Rd., Chestnut Hill MA 02467 Hold real estate

Dkerio Realty LLC Dani S. Kerio, manager 928 Grafton St., Worcester MA 01604 Buy, lease and sell real estate

Old Red Farm Inn LLC Virginia P. Sherman, manager 20 Stockton Shortcut, Wareham MA 02571 Function facility and inn





19 Broadway LLC Brian O'Hearn and Jeanne O'Hearn, managers 19 Broadway, Beverly MA 01915 Real estate

Damnek LLC Norman E. Kenney Jr., manager 49 Cedar St., Waltham MA 02154 Operate and own real estate

Ashuelot Park LLC Peter R. Kirchner, manager 401 South St., Dalton MA 01226 Real estate

One Stone Partners LLC Vadim Gluzman, Edmund Hajim and Robert Israel, managers Principal office @ 720 Fifth Ave., 10th floor, NYC 10019; MA office Investments, including real property interests@ 3 Doeskin Pl., Framingham MA 01701

Emerald Green Developments LLC Marina Hauser, president and secretary; Aaron Breen, treasurer C/o Beantown Property Group @ 383 Dorchester Ave., Ste. 110, Boston MA Real estate development

84-100 Peterborough LLC Monty Gold, manager 302 Shawmut Ave., Boston MA 02118 Develop, finance, lease, manage, market and sell real estate

44 East Street LLC Patrick J. Weidman, manager 79 Grove St., Franklin MA 02038 Develop, lease, purchase and sell real estate

Fuller Building LLC Michael C. Duaresq and Anthony O. Finocchiaro, managers; Principal office @ 45 Main St., Amesbury MA 01913; Real estate and interests thereinPaul J. Gagliardi, resident agent Paul J. Gagliardi @ 2 Atlantic View, Amesbury MA 01913

Shoney LLC Sarah H. Welcome, manager; Thomas J. Filipek, signatory 116 Randall St., North Easton MA 02356 Acquire, develop, lease, manage and sell RE

Aghia Marina Realty LLC Eirini Beikoussi, manager 380 Merrimack St., Methuen MA 01844 Deal in real property

Stewardship Property LLC Brian K. Cheng and Judy T. Cheng, managers 340 East Main St., Milford MA 01757 Buy, develop, lease, own and sell real estate

Kittredge LLC Matthew J. Kiefer, president C/o Historic Boston Inc. @ 20 Eustis St., Roxbury MA 02118 Deal with real estate

DDG Winthrop LLC Panos Demeter and Sheldon M. Drucker, signatories 163 Newbury St., Boston MA 02116 Interests in real estate

Page Road Development LLC John B. Cortizas and Kurt D. Miller, managers 4 Norfolk Rd. Winchester MA 01890 Acquire, develop, lease, own and sell RE

Doirardi LLC Stephen Lombardi, manager 136 Mill St., Hopedale MA 01747 Make investments in real property

Wesquo Capital Partners LLC Steven D. Hollister, manager 37 Old South Rd., #6, Nantucket MA 02554 Deal in real property

The Youngman Companies LLC Andrew Scott Youngman, manager 1075 Main St., 4th floor, Waltham MA 02451 Investments, including real property interests

GCP Andover LLC Jeff Clary and Ted Norberg, managers C/o Grander Capital Partners @ 800 Boylston St., 16th floor, Boston MA 02199 Commercial real estate


students at which are a major source ofrenters in the building, says Valeri. Othersinclude young professionals working indowntown Boston or the nearbyLongwood Medical Area.

Acquired through the CBRE/NewEngland multifamily sales team of SimonButler and Biria St. John, the unitsHamilton purchased have remained asapartments even though they were con-structed with high-end finishes in antici-pation of being converted. Many of theunits are larger than normal, includingseveral that are three bedroom configura-tions. That has helped make them a popu-lar item for renters who rarely see suchsize in thickly settled Boston.

Given its belief in the developer andthe relatively new construction that onlydates back 20 years, Hamilton was willingto limit its due diligence length to 10 days,but the closing dragged out severalmonths due to the complex nature of theproject that required city approval of thebuyer and issues to deal with on the con-dominium structure. Fortunately for

Hamilton, the firm’s legal needs were pro-vided by longtime company attorney SallyE. Michael of Saul Ewing, who has assist-ed the firm on nine other acquisitions inrecent years, including other large onessuch as the $129 million purchase of 400-plus apartments in Brookline in 2010.

Hamilton employed a credit facilitywith KeyBank to finance 650 ColumbusAve. Matt Purtell of KeyBank handled that

process in purchasing the units fromKargman’s Boston Land Developmentunder the entity Hamilton Northeast LLC.At the request of the condominium boardat 650 Columbus Ave., Hamilton Co. willprovide management services and alsoenable the board to take advantage of adiscount buying program for products andsupplies that Hamilton already has inplace. n

Hamilton Lendercontinued from page 4


Pho

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Francisco is teamingwith prolific Boston-based SynergyInvestments to acquirewhat is being coined asthe Seaport WharfPortfolio. The packageincludes 150,000 sf inthree office buildings

and a 585-vehicle garage.“It’s a huge deal,” says one investment

sales professional tracking the negotiationsthat Cushman & Wakefield is rumored to behandling on behalf of Archon Acquisitions

LLC. That source insistsa purchase-and-saleagreement has been ten-dered, with a closinganticipated over the nearterm. Calls to C&WPresident of NewEngland Robert E.Griffin Jr. were notreturned by press dead-line, and other partiesinvolved were also notimmediately available.The Capital MarketsGroup at C&W is led byGriffin along with Vice-Chair Edward C. MaherJr. and Executive

Director MatthewE. Pullen.

Despite theabsence of anyformal acknowl-edgement, thepartnership has a“99 percent” likeli-hood of buying thebuildings at 319 ASt., 327 and 337Summer St. andthe Necco Streetgarage, accordingto one marketwatcher who char-acterizes theopportunity as amix of cash-flow-ing product suchas the garage toassets in the FortPoint Channel neighborhood that will like-ly require upgrades to compete in the hotSeaport arena. They could be retrofittedfor office users but also are poised to takeadvantage of the surging demand for resi-dential units to fulfill the Seaport’s visionas a sustainable Live/Work/Play enclavethat is all the rage in planning circles thesedays. C&W makes that point in marketingmaterials provided to the Real Reporterthat also cites the solid cash flow from theparking garage as another plus.

DivcoWest and Synergy are already

quite familiar with the Seaport. Founded in2003 by David Greaney, Synergy has multi-ple holdings there already from 250 and 253Summer St. to 51 Melcher St., the latter aformer Archon asset that has been revital-ized in recent months by an aggressivelease-up campaign that quickly filled morethan 55,000 sf. DivcoWest, meanwhile,made a big splash in the Seaport last yearupon paying $107 million to land a four-building, 375,000-sf portfolio, many of theassets similar to the ones now seemingly inthe group’s crosshairs. n

Seaport District, Boston MA

Robert E. Griffin Jr.

Edward C. Maher Jr.

Seaport Portfoliocontinued from page 1

David Greaney

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park, and along with the other ownersmake this a world-class location,” Krebssaid.

Normandy’s project and others alongthis year’s bus route appear to be followingthe new urban mixed-use developmentmodel, which includes greater height anddensity (Center 128 will feature a building300 feet long and 84 feet high before sig-nage), more efficient use of space, and anear-mandated base level retail. A secondNormandy project, Riverside Station, isjust one exit up in Newton. The projectwas also highlighted at the breakfast and isa transit-oriented, mixed use developmentwith a 10-story, 225,000-sf office tower,295 apartments and 20,000 sf of retail.

Another story line of the day (and theyear) seems to be the growing importance

of retail being incorpo-rated into new develop-ment, and JeremyGrossman, principalCBRE/Grossman RetailAdvisors made thatpoint crystal clear.“Retailers are expand-ing again, and restau-rants led the chargecoming out of the reces-sion, and they’re contin-uing to lead the chargegoing forward,” saidGrossman. “Food isquickly becoming thenew and preferredanchor of retail shop-

ping environments.”That point was evident at the tour’s

first major drive-by, the ChestnutHill/Route 9 corridor. It is home to threedevelopments within a mile of each other,including WS Development’s “The Street,”which in addition to adding a new SuperLux Showcase Cinema and the SportsClub/LA, recently signed Del Frisco’s anda Shake Shack, the 160,000-sf NewEngland Development project anchoredby Wegman’s, includes a Capital Grille, andthe former Atrium Mall being repositionedas medical office space is geared to bene-fit from the nearby food and entertain-ment amenities.

The six-bus caravan then cruisedthrough Waltham, where more projects

under construction were spotlighted,including 1265 Main St., the formerPolaroid site being redeveloped by SamPark & Co. into a 280,000-sf mixed usedevelopment anchored by Marshalls and aMarket Basket. Among the highlights wasa visit to Bay Colony Corporate Center,which underwent a costly redevelopmentand repositioning by Boston Properties toupgrade the asset—at one time consid-ered the jewel of the suburban campusesand a project has made great strides inrestoring its former luster through theREIT’s upgrades.

The trip then continued through devel-opments in Lexington, Bedford andBurlington (including Northwest Parkwhere Nordblom is developing 4.6 millionfeaturing Wegman’s), then to Woburn,Wilmington, Wakefield and North Readingbefore pulling into the immense construc-tion site by late summer will beMarketStreet Lynnfield, the joint venturebetween National Development and WSDevelopment. The project will have395,000 sf of retail and restaurants(including a number of Legacy Place ten-ants like King’s Bowling and WholeFoods), 80,000-sf of office space, 180 res-idential apartments, and the King RailReserve 9-hole golf course.

NAIOP of Massachusetts PresidentThomas DeSimone (also VP ofDevelopment at WS Development) andTheodore Tye of National Developmentgave an update on the project, which isalready a success before a store has even

opened. DeSimone announced is already99 percent leased. “We have never beenable to open a center as occupied as we willopen with MarketStreet Lynnfield,” he said.There are 15 buildings under construction,and Tye reports 10,000 sf of office spacewill also be ready by September.

At the end of the day, many tour atten-dees, including those in the CRE and con-struction business, said they were amazedby the amount of construction in theRoute 128 corridor. “I was blown away bythe degree of the recovery,” said 20-yearconstruction veteran Trina Jerich, a seniorproject manger for TimberlineConstruction and a new NAIOP member.“We’re feeling the recovery (in our busi-ness), but I had no idea it was this deep. Ialso was impressed with the breadth ofknowledge of the brokers (who served astour guides on the buses).”

David Begelfer, NAIOP of Massachusettspresident and CEO agrees. “There is anawful lot of development activity going onout there that I think would be a surprise toa lot of people,” said Begelfer. One otheraspect of the day that stood out was theshift in demographics that saw a much high-er representation of women at the event.Begelfer said it was no accident.“Historically, (commercial real estate) hasbeen male oriented, and we have put a lot oftime and effort into increasing the member-ship of both women and young, developingleaders under 35 to make sure that the peo-ple who are in the business are well repre-sented,” he explains. n

NAIOP 2013 Bus Tourcontinued from page 2

Jeremy Grossman

Justin Krebs


Partners from the New Boston Fund for$12.1 million in cash and debt to the $52million exchange of 134 apartments inBoston’s South End secured by theHamilton Co. (see story, page five). InRhode Island, CBRE/NE’s multifamily con-tingent led by Simon J. Butler and Biria St.John orchestrated the $56.1 million swapof 478 units in East Providence to Gaia

Real Estate, a New York-based entity that beatout a bevy of suitors, arobust response thatButler says is refreshingto see following theOcean State’s harshdownfall in the 2008recession that even crip-pled many multifamilyventures. “This to me isa signal that there is realinterest in Rhode Islandagain,” observes Butler.“It shows people feel theeconomy there is finallyon the upswing.”

The deal thatamounts to $115,000 per unit and is thelargest of its sort in Rhode Island since2005 could pay off for the new ownershipshould the rental market respond toincreased employment, Butler notes,while Gaia is also undertaking a value-addimprovement campaign to further boostchances to increase occupancy.

In a press release, Gaia managing part-ners Danny Fishman and Amir Yerushalmiconcur with Butler that their pursuit ofWinchester Park and Winchester Woodwas indeed inspired by Providence’s stabi-lizing environment. Gaia PropertyManagement will oversee the complex aspart of a 13,000-unit portfolio extendingacross the United States.

The Urban Capital Partners group hastaken on NBF’s Schoolhouse at LowerMills apartments that the seller had heldsince paying $2.5 million in Oct. 2006. The$12.1 million includes assumption of an$8.48 million loan held by US Bank on thecomplex. In response to inquiries from theReal Reporter, NBF Northeast RegionalDirector Gary Hofstetter issued a state-

ment Friday confirming the agreementharvesting the 54,000-sf apartment com-plex that combines an 1850’s woodenschoolhouse featuring eight apartmentswith a new four-story structure where theremaining units are situated, 40 of whichare one-bedroom, one-bath layouts. Eightare similar to that with a den and 14 aretwo-bedroom, one-bath units. Six of theunits are affordable at Schoolhouse, whichwas 97 percent occupied at the time of itssale and has performed admirably through

the downturn, accord-ing to Hofstetter.

“With consistentlyhigh occupancy rates,Schoolhouse has been avery successful and sta-ble asset in ourNortheast portfolio,”Hofstetter conveys,

adding that, “Multifamily is extremely hotin the market right now, so we decided toleverage the existing conditions and capi-talize on this well-performing property.”NBF’s involvement included constructionof the new portion and completion of theschoolhouse upgrade in partnership withSchoolhouse Ventures LLC. Situated in

Lower Mills Village, the property incorpo-rates condominium-quality finishes andfixtures such as granite countertops, hard-wood floors, Kohler plumbing and in-unitwasher/dryers. Amenities include under-ground parking, fitness center and club-room plus storage areas.

Butler declined to discuss specifics ofeach deal, but does acknowledge it hasbeen another busy start for the CBRE/NEgroup, a machine that provides a full rangeof debt and equity options in the multifam-ily sphere. In the Rhode Island transaction,CBRE/NE’s lending platform stepped in toassist the buyer on financing the develop-ment that consists of 80 buildings, primari-ly two- and three-story garden style andtownhouse apartment buildings.Winchester Park was originally built in theearly 1970s and extensively renovated in2000, whereas Winchester Wood was devel-oped in 1985 and has 62 of the units. Theproperties include a renovated clubhousewith lobby and lounge areas, fireplace andfitness center. Outdoor recreational attrac-tions include tennis courts, a private land-scaped courtyard and a swimming poolwith sun deck. There is also ample parkingfor upwards of 700 vehicles. n

CBRE/NE Multifamilycontinued from page 1

Winchester Park Apartments, Providence RI

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