6 minute read
Real Estate
Assembly Row
Somerville, MA – Federal Realty Investment Trust recently released its 2021 Environmental, Social and Governance (ESG) Report.
Featured in the report is Federal’s Assembly Row 65-acre mixed-use project in Somerville. Representatives of the firm say the project demonstrates how investments with positive environmental and social impact can also deliver positive financial results, benefiting all stakeholders, and that this project, which unlocked a formerly underutilized waterfront brownfield, has created a transit-oriented neighborhood and an economic growth engine for decades to come.
According to the report, key Assembly Row achievements include:
• Completed in 2022, 455 Grand
Union Boulevard (office) and Miscela (residential), achieved LEED Gold certification bringing the total LEED footprint to 1.7 million sq. ft. and making all fully owned mixed-use buildings LEED Gold-certified. • Commitment to the arts and partnerships with local artist and organizations like
Artists For Humanity. • More than 100 events annually create a community gathering place where people can relax and recharge. • Creation of transportation management association to promote
WinnCompanies Joins MSEP
Boston – WinnCompanies, a national developer and manager of apartment homes, has become an official partner of the Military Spouse Employment Partnership (MSEP), a U.S. Department of Defense program that connects military spouses with employers committed to recruiting, hiring, promoting, and retaining military spouses.
The partnership means that military spouses will have access to hundreds of jobs available at the more than 600 apartment communities that the company operates in 23 states and the District of Columbia, including open positions at numerous military housing communities.
“Our teams interact every day with members of the U.S. Armed Forces and their families, many of whom are required to relocate frequently in service of our country. We know firsthand about the employment challenges that military spouses face,” said Patrick Appleby, president of WinnResidential, the company’s property management arm. “Our national presence gives spouses multiple, convenient options for rewarding career opportunities. We’re excited to welcome them to our team.”
MSEP, a targeted recruitment and employment solution, offers training and employment connections that provide companies with direct access to military spouses seeking career opportunities, giving spouses direct access to employers who are actively recruiting.
Following the success of a program for Army spouses, MSEP launched in June 2011 to also serve Navy, Marine Corps, and Air Force spouses. As part of the Defense Department’s Spouse Education and Career Opportunities initiative, MSEP participants have hired more than 220,000 military spouses.
WinnResidential Military Housing Services, based in Nashville, Tenn., manages privatized military housing, serving more than 40,400 households at 26 military communities in 12 states. sustainable transportation solutions to reduce traffic and enhance the quality of life, accessibility, and economic vitality of the greater
Assembly Square area. • In 2014, in partnership with the state and federal agencies, Federal Realty brought the first MBTA subway station on the orange line since 1987. • Significant investment in on-site environmental remediation, clean-up of the Mystic River, and improved infrastructure provided the foundation for rejuvenation of the site and local marine species.
With these achievements, Assembly Square is poised to become the newest cluster in Greater Boston’s thriving life sciences hub with more than $1 billion in investment currently planned within the 1-mile area around Assembly Row, according to representatives of Federal Realty.
The report also highlights Federal’s ESG achievements across the entire portfolio that include:
• Announcing a commitment to achieve net zero for Scopes 1 and 2 emissions by 2050. • Achieving a 39% year-over-year reduction in like-for-like Scope 1 and 2 greenhouse gas emissions through the aggressive use of green power purchasing, accomplishing Federal’s reduction target three years early. • Achieving LEED Gold certification for the company’s One CocoWalk office building at its newly renovated CocoWalk project in Coconut Grove, Fla. • Expanding its sector-leading on-site solar generating capacity to 13.6 MW. • Expanding climate scenario disclosures in accordance with the Taskforce on
Climate Related Financial Disclosures.
To learn more about Federal’s ESG efforts and to view the full report, visit www.federalrealty.com/esg.
RE Firm Closes Largest Fund to Date
Boston – Marcus Partners, a real estate investment, management and development firm, announced the final closing of Marcus Capital Partners Fund IV, L.P., a value-add real estate fund with commitments totaling $650 million.
This exceeds both the original $500 million fundraising target and $550 million hard cap, a demonstration of investor confidence in the firm’s mission, team and investment strategy.
“Amidst today’s volatile investment landscape, we remain keenly focused on capital preservation,” said Marcus Partners founder and CEO, Paul Marcus. “We have a demonstrated track record of investing across economic cycles and our vertically-integrated team is wellpositioned to capitalize on dislocations in our target, knowledge-based markets.”
“We are deeply thankful to our many longtime investors that committed to Fund IV and pleased to expand our investor base with a select number of new key relationships,” said Marcus Partners COO and head of capital, Patrick Sousa. “This is strong recognition of our differentiated value proposition and commitment to generating strong returns for investors.”
The firm is active in three primary metro markets: Boston, New York and Washington, D.C. In recent years, Marcus Partners has particularly focused its valueadd strategy on industrial, multifamily and life science investments, while simultaneously possessing the ability to invest across additional property types.
INNOVATION & EXCELLENCE IN PREFABRICATION LIVES HERE
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B t simpl assembling parts offsite is not eno gh. To do it right req ires planning, the se of technolog , and a dedica on to lean methods that encompasses the en re project deli er strateg from es ma on and engineering to final j st-in- me material deli er to the point of installa on on the job site. It all has to ork seamlessl , and hen it does, ith the right team and tools in place the end res lt is o tstanding q alit , and a sa sfied c stomer.
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Interstate hires locall and celebrates di ersit in its ork force both in the prefab facilit and in the field. We offer on the job training con n o sl and an assembler appren ce program
cer fied b the state of Massach se s.
If o ant to ork ith the pioneer in prefabrica on, the onl place to look is Interstate Electrical Ser ices Corpora on.
The benefits of Interstate’s Uniq e Project Deli er model are n mero s:
• Red ced site aste and impro ed site safet • The capabilit to t rn on a dime to accommodate sched le and scope changes • Consistent UL Cer fied q alit • Less “ ear and tear” on site teams • Increased sched le predictabilit
