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JUNE 7, 2013

Back to the Seaport for Beacon in $95M Deal at Channel Center

THE REAL REPORT

100 Reasons

OSTON — Two major real estate players who helped launch the Seaport District’s revitalization appear at it again, yet the roles are decidedly different as Commonwealth Ventures and AREA Property Partners are said to be on the verge of selling a substantial piece of their

continued on page 24 10-20 Channel Center, Boston MA

1100 Crown Colony Dr.Trading for $25.5M BY JOE CLEMENTS

UINCY — A New York-based investor is paying $25.5 million to secure 1100 Crown Colony Dr. from Digital Capital Realty Trust in a swap declared by one market source to be “imminent” as of press deadline. The fast-moving transaction involving Carey REIT II Inc. is being negotiated through Holliday Fenoglio Fowler’s Capital Markets

100 Arboretum Dr., Newington NH BY JOE CLEMENTS

NEWINGTON, NH — In return for developing a speculative 67,000-sf office building at Pease International Tr a d e p o r t , Farley|White Interests got an enticing incentive package from the converted air force base’s manDenis Dancoes agement group, FWI principal John F. Power recounted Thursday at a groundbreaking for that structure, known as Phase II of 100 Arboretum Dr. “They said, in return, we will create a northern entrance to the park continued on page 20

continued on page 21

1100 Crown Colony Dr., Quincy MA

NAIOP – Weathering the Coming Storm BY MIKE HOBAN

OSTON — Be Prepared. That is one lesson commercial real estate owners and others wish they had learned from the Boy Scouts well before Superstorm Sandy belted the East Coast senseless last autumn, leaving at least 285 dead and $53 billion in damages. At last Friday’s compelling NAIOP program at the Seaport Katharine Bachman

Hotel, “Weathering the Storm: How Properties Can Prepare and Respond,” attendees got to hear and see what happens when property owners fail to prepare as well as what can be done to be ready for when the next one hits. And the next one will hit, according to the panel of experts, beginning with Vivien Li, president of The Boston Vivien Li

continued on page 23

THE REAL REPORTER

June 7, 2013

HFF Arranges $37.5M in Two Financings Broder Properties bought the holdings out of foreclosure and intends to restore the Rindge Avenue structures to LEED Platinum standards, an extreme level of sustainability. A team led by HFF Director Greg LaBine arranged the 15year, fixed-rate financing through Eastern Bank that will fund construction and convert to the permanent instrument upon completion. “Broder intends to hold these properties long-term as a core portion of their growing portfolio,” explains 70 Wells Ave., Newton MA LaBine, with the client able to lock in rates retire maturing debt on the holdings, relays from the current environment that contin- LaBine, who oversaw that deal as well. Five of the buildings are on Wells Avenue in ues to post record low interest levels. On the Wingate endeavor, Brookline Newton (70, 100, 150, 160 and 189), while Bank stepped up to provide the first mort- the other is 72 River Park St. in Needham. gage for a 132,700-sf portfolio in Needham LaBine says there was broad interest continued on page 21 and Newton. Loan proceeds were used to

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OSTON — As the mid-year approaches, Holliday Fenoglio Fowler is having another banner season for investment sales, but that does not seem to have compromised the group’s debt placement operations, as evidenced by two recently completed assignments. The larger is a $23 million construction loan for a Cambridge multifamily value-add project, a note that will convert to Greg LaBine permanent financing, while a first mortgage refinancing of $14.9 million was provided to the Wingate Cos. covering a half-dozen commercial buildings in Greater Boston. On the Cambridge venture, Broder Properties is overhauling a three-building, 63-unit multifamily project that will be branded The Wyeth. It consists of 45 Yerxa Rd., a 19-unit asset that was renovated in 2008, plus 120 and 124 Ridge Ave., partially completed buildings sporting 28 and 16 units, respectively. Based in the Back Bay,

June 7, 2013

THE REAL REPORTER

Cresa, RBJ Orchestrate 56,750-SF Malden Deal

FOR SALE The Village at Cedar Heights · Mansfield, MA C L A S S ‘ A’ 6 6 - U N I T A PA R T M E N T C O M M U N I T Y W W W. V I L L A G E AT C E D A R H E I G H T S . C O M

Commerce Place, Malden MA

ALDEN — Providing a welcomed boost for downtown Malden, Cambridge Health Alliance is moving to Commerce Place at 350 Main St., officials for the regional healthcare network announced this week. The 56,750-sf commitment brings occupancy to 92 percent in the 152,000-sf office building that is owned by Preotle, Lane & Associates. Paul Delaney “This lease provides CHA a wonderful, longterm opportunity to consolidate various operations under one roof in a cost-effective manner,” says Cresa Boston principal Adam Subber, adding that, “all parties involved exhibited creativity throughout the negotiations that ensured the lease come to fruition.” Subber plus Cresa colleagues Paul Delaney and Dan Sullivan continued on page 20 Adam Subber

CHRISTOPHER D. SOWER

617.850.9633 csower@bradvisors.com JASON S. WEISSMAN

617.850.9608 jweissman@bradvisors.com

The bank of choice for

CBRE/NE Team Finalizes getting the deal done. $106.7M Connecticut Sale

The commercial real estate group at Washington Trust provides commercial real estate mortgages for the construction, refinancing, and purchase of investment real estate projects throughout New England.

EST HARTFORD, CT — CBRE/New England’s Capital Markets team has completed the sale of Blue Back Square, a best-in-class, mixed-use property offering a street retail, working and living community unique to Christopher Angelone William Moylan central Connecticut. The asset is comprised of six buildings totaling 448,875 sf spread over 6.4 urban acres with a mix of medical office, office, restaurant and retail space. Ronus Properties sold the asset to Starwood Capital for $106.3 million. CBRE/NE’s Christopher Angelone, William Moylan, Nathaniel continued on page 24

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THE REAL REPORTER

June 7, 2013

CBA Takes Long Look at Cambridge BY MIKE HOBAN

OSTON — The Commercial Brokers Association resumed their “Looking Behind the Deals—Seeing Beyond Today” series this past week at Atlantic Wharf in a panel discussion dissecting Cambridge’s laboratory and office markets. The “no frills and no power point presentation” model CBA debuted last autumn featured three John J. Boyle III seasoned Cambridge brokers, Gregory P. Lucas of CB Richard Ellis; Jones Lang LaSalle Executive VP John Osten; and Mark J. Winters of Cushman & Wakefield. The trio discussed emerging trends Gregory P. Lucas in one of the country’s hottest markets with the help of moderator and CBA president John J. Boyle III. Leading off the event examining the

office segment, Winters identified the single biggest trend in the Cambridge office market over the last dozen years to be a lack of construction which has morphed into the chronic lack of inventory. The last speculative office project, he relayed, was

We Tip the Scale in Your Favor

700 Technology Square, a 48,900-sf structure that came on line in 2001 and today is owned by Alexandria Real Estate Equities. There has been a total of 800,000 sf of office construction in Cambridge in the continued on page 22

Work with Cresa, Real Estate Advisors Who Only Represent the Tenant Does your broker represent your landlord as well as you? If so, that presents a potential conflict of interest. At Cresa, we work only for the tenant. Not the landlord. That’s the Tenant’s Advantage.

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June 7, 2013

THE REAL REPORTER

Burgess Cooks Up Deal For 203,000 SF in Lynn

YNN — A popular Chelsea soup company has struck one of the most significant industrial leases across New England this year, signing up to fill 203,000 sf at the Clock Tower Business Center. The multi-building, 500,000-sf property overlooking Lynn Harbor will welcome Kettle Cuisine next spring to begin a 15-year stay. Burgess Properties founder Philip K. Burgess fomented the commit- Future home of Kettle Cuisine at ment by placing a cold Clock Tower Business Center, Lynn MA call to Kettle Cuisine leadership, aware the fast-growing company had a lease expiration near and need for expanded capacity. “That was it,” Burgess recounts to the Real Reporter after Kettle Cuisine soon embraced the property and signed what turned out to be Burgess’ largest deal spanning a 32-year career focused on Boston’s inner suburbs. Having been exclusive listing agent since 1999, Burgess says he felt Clock Tower would be among limited options that could serve Kettle Cuisine’s corporate specifications without impacting its loyal employee base. As things turned out on the latter matter, a substantial percentage of staff reside in Greater Lynn, and for those who do not, the future home is just a few miles from the current plant and on a main bus line. “They realized this was a perfect fit in every way for them,” says Burgess of Kettle Cuisine. The relocation decision follows a partnership agreement between that company and the Arlon Food and Agriculture Investment Program. Kettle intends to broaden its markets while maintaining core food and business philosophies. The soup “is so good it’s scary,” opines Burgess, sole broker in the lease negotiations. Burgess relays Kettle Cuisine will become the property’s largest tenant ever, with the lease split between 130,000 sf under renovation and an adjacent plant being developed through a fast-track construction program on a site where a similar sized building was ruined in the brutal winter of 2010. The next largest tenant occupies about 25,000 sf. The two-pronged lease structure will accommodate Kettle Cuisine’s need for new-age administration, manufacturing and warehouse space inside Route 128, offers Burgess. With many sites having been replaced by so-called higher-and-better uses, Boston’s inner suburbs have seen the industrial inventory erode in the new millennium. That is one thing that makes Clock Tower Business Center so rare, he conveys of a development still owned by its prior occupants, the founders of West Lynn Creamery who sold that operation several years ago but retained the real estate.

FOR SALE The Village at Cedar Heights · Mansfield, MA C L A S S ‘ A’ 6 6 - U N I T A PA R T M E N T C O M M U N I T Y W W W. V I L L A G E AT C E D A R H E I G H T S . C O M CHRISTOPHER D. SOWER

617.850.9633 csower@bradvisors.com JASON S. WEISSMAN

617.850.9608 jweissman@bradvisors.com

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THE REAL REPORTER

June 7, 2013

Horvath, Tremblay Close $12.4M Lowe’s Deal

INDHAM, ME — In an expeditious process, Marcus & Millichap has completed the sale of a Lowe’s home improvement center here in this upscale southern Maine community, as the 138,000sf retail asset at 64 Manchester Dr. traded for $12.4 million, representing a capitalization rate of 6.65 percent. The unit that came on line in 2006 is situated adjacent to Route 302, a major Robert Horvath thoroughfare along which close to 22,000 vehicles whiz by daily, according to the Marcus & Millichap duo of Robert Horvath and Todd Tremblay who negotiated the sale. The transaction conTodd Tremblay tinues a busy 2013 for the two brokers who are based in Waltham but active nationally. Even with the Windham listing completed and others

moving towards conclusion, Horvath and Tremblay report a number of other deals they are just now bringing to market, most of them the netleased variety that their organization specializes in representing. This week alone, the new roster for Horvath and Tremblay features a Wal-Mart in Anderson, South Carolina, while Lowe’s, 64 Manchester Dr., Windham ME in New England, the pair is bringing out a mid-March. In the earlier article where pricCVS unit in Concord, NH, as well as a ing was predicted to be around $12.8 million, Horvath termed the Windham asset a Burger King in Saugus. Risk-averse investors have found net- top-performer for Lowe’s, which operates in leased real estate a palatable investment to excess of 1,750 such units across the counalternative, helping foment dozens of sales try, and Horvath at the time said he did by Horvath and Tremblay to date this year. expect a speedy resolution. “It’s what The Lowe’s, however, appears to have everybody wants,” he said of an asset whose struck a particular chord, with the listing occupant has 12 years remaining on a 20n only announced by the Real Reporter in year ground lease.

THE REAL REPORTER

June 7, 2013

GBREB Turnout Strong for Scholarship Program

Construction Development Financing Conveyance 1031 Exchanges Leasing Environmental Land Use

C. Michael Malm

cmalm@davismalm.com

Litigation (L-R) GBREB Treasurer Rich Beal with scholarship recipient Stephanie Grace and 2013 GBREB Chairman Rob Brierley BY MIKE HOBAN

OSTON — Fifty-five students from the Bay State received much needed help with their college tuition costs this week as the Greater Boston Real Estate Board (GBREB) held its third annual Foundation Scholarship Event at the Top of the Hub at the Prudential Tower. The 140 attendees at the fundraiser helped boost the fund, which will distribute $50,000 to this year’s class of 25 and an additional $60,000 to last year’s class of 30 recipients. The program grants funds to students over a twoyear period based on financial need and exceptional academic ability to help them defray college costs. “It was a great event and we had a real diverse crowd as well as a huge presence on the part of commercial real estate community, including past chairmen Tom Hynes (Colliers International), Jerry Rappaport (New Boston Fund), and Jim Canfield (McCall & Almy),” GBREB CEO Gregory P. Vasil relays to the Gregory P. Vasil Real Reporter following its conclusion. “Half of the kids are from Boston and the other half are from the suburbs and we’re helping them go to a range of schools from the Ivy League to the state colleges,” explains Vasil. The “keynote” speaker was one of the student recipients, Stephanie Grace from the Josiah Quincy Upper School in Boston, who will attend Brigham Young University next year. “Her story is that for part of her high school career she was homeless and living in a shelter with her family, and she was very grateful for this scholarship because it completes the financial aid package that allows her to go to BYU,” says Vasil. Robert Brierly, Chairman of GBREB (and Senior VP at Colliers International) introduced the 55 recipients of the scholarships, followed by Ms. Grace and Robin Coyne, the guidance counselor for the Josiah Quincy School, who expressed gratitude for the program and told the crowd just how much the n scholarships mean to her students.

Commercial Lending SBA Lending Mixed-Use Multifamily Office Retail

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THE REAL REPORTER

June 7, 2013

Commercial Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013

M AY 3 1 S T MTG: $24,000,000 from East Boston SB ADD: 180 and 182 Pine St. & 75 Sylvan St., Danvers BWR: Brookwood Sylvan LLC, managed by Brookwood Financial Partners MTG: $10,000,000* and $19,480,000 from Middlesex Savings Bank ADD: 10 New Bond Street, Worcester BWR: Abby Kelly Foster Charter Public School, mgd. by Heidi Paluk, chair & John Hannon, treas. NOTES: *Second mortgage; first mortgage MTG: $9,102,000 from Berkadia Commercial Mortgage ADD: 71-75 and 100 Kilsyth Rd., Brighton BWR: Kilsyth Village LLC, mgd. by Peter Poras MTG: $4,680,000 from Berkadia Commercial Mortgage ADD: 56-58 Selkirk Rd., Brighton BWR: Selkirk Gardens LLC, mgd. by Peter Poras BUYER: Treeco/Liberty LLC, managed by Soder Real Estate Equities, Montclair, NJ SELLER: Frederick D. Ballou and Peter B. Loring, trustees of Pinwash Realty LLC PRICE/ADD: $3,475,000; 465, 467 and 469 Washington St., Boston MTG: $4,000,000 from East Boston SB NOTES: Retail property, constructed 1899; building size is 7,175 sf, lot size is 3,725 sf; sellers’ family ownership in property dates to July 1962 MTG: $3,000,000 from Salem Five Cents SB ADD: 109 East Main St., Merrimac BWR: North Shore Community LLC, managed by Russell Hertrich MTG: $3,000,000 from Middlesex SB ADD: 558 Waverly Oaks Rd., Waltham BWR: Wayside Youth and Family Support Network Inc., mgd. by Eric L. Masi, pres. and CEO MTG: $2,238,964 from Eastern Bank ADD: 194 Main St. and 246 Main St., Amesbury BWR: Amesbury Realty Corp. and Brick Associates LLC, managed by Philip Pastan BUYER: CCC Post Road LP, managed by B’nai B’rith Housing New England Inc. SELLER: Vincent C. Mercuri PRICE/ADD: $2,000,000; 189 Boston Post Rd., Sudbury NOTES: Four land parcels; lots total 5.9 acres; seller assembled property at various times over years BUYER: Seaport Crossing LLC, managed by Douglas R. George SELLER: Cedarwood Development LLC, managed by David Charles Matteo and David Bruce Winick

PRICE/ADD: $1,700,000; 345 D St., Boston MTG: $3,490,000 from East Boston SB NOTES: Industrial property, constructed 1965; building size is 5,025 sf, lot size is 6,300 sf; last sold for $762,500 in Aug. 2011 MTG: $1,500,000 from Cape Ann SB ADD: 189 Main St., Gloucester BWR: Hecht 189 Main LLC, mgd. by Kenneth Hecht BUYER: Citysquare II Development Co. LLC, managed by Leggat McCall Properties SELLER: Worcester Renaissance LLC, mgd. by Berkeley Investments, Young Park, pres. & treas. PRICE/ADD: $1,425,000; Front Street, Worcester NOTES: Portion of property acquired by seller in June 2004 MTG: $1,419,881 from Salem Five Cents SB ADD: 503-509 Main St., Melrose BWR: 503-509 Main Street Melrose LLC, managed by Amy Palmer and Michael A. Palmer BUYER: 100 Rockview Street 100 LLC, managed by Scot E. Butcher SELLER: Jamaica Plain Trinity Latvian Lutheran Church, mgd. by Modris Ozolins, pres. and treas. PRICE/ADD: $800,000; 100 Rockview St., Jamaica Plain MTG: $1,400,000 from Needham Bank NOTES: Tax-exempt building, constructed 1899; building size is 4,025 sf, lot size is 6,550 sf; property last changed hands in Jan. 1928 BUYER: RPI Hopkinton LLC, managed by Edward P. Bell and Mark E. Levy SELLER: Hayden Rowe Realty Corp., managed by Frederick A. Grant Jr. PRICE/ADD: $1,200,000; 34-40 Hayden Rowe, Hopkinton

NOTES: Industrial/flex building, constructed 1860; building size is 46,275 sf, lot size is 2.3 acres; last sold for $520,000 in July 1998 BUYER: 181 North Main North Brookfield LLC, managed by Jolene Varney SELLER: Paradise One Realty LLC, managed by Haralambos Gidopoulos and Nellie Gidopoulos PRICE/ADD: $1,090,000; 181 North Main St., North Brookfield MTG: $825,000 from Marlborough SB NOTES: Mixed-use properties; ground-floor retail and 35 multifamily units in four buildings; building size totals 25,825 sf, lot size is one acre; last sold for $1,100,000 in May 2008 BUYER: Barbara M. Fitzpatrick, James J. FitzPatrick and James J. FitzPatrick Jr., trustees of FitzPatrick Realty TR SELLER: Charwit A&S Realty LLC, managed by Robinson S. Whitten and Steven D. Whitten PRICE/ADD: $1,000,000; 62 Holton St., Woburn MTG: $400,000 from Eagle Bank NOTES: Industrial property, const. 1979; building size is 10,800 sf, lot size is 3.7 acres; sellers’ family ownership in property dates to April 1974

M AY 3 0 T H BUYER: Necco Garage Properties Owner LLC, mgd. by DivcoWest and Synergy Development SELLER: W2005 BWH III Realty LLC, managed by Archon Group PRICE/ADD: $34,000,000; 10 Necco St., Boston MTG: $18,525,000 from Capital One NOTES: Parking garage, constructed 1999; six levels, 585 spaces; lot size is 1.9 acres; portion of portfolio acquired by seller in Nov. 2005 continued on page 9

THE REAL REPORTER

June 7, 2013

Commercial Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013 continued from page 8 BUYER: North River II LLC SELLER: Fine Art Storage Partners LLC, managed by Richard L. Perlmutter PRICE/ADD: $33,430,000; 200 Inner Belt Rd., Somerville MTG: $24,570,000 from People’s United Bank NOTES: Office/flex property, constructed 2001; building size is 186,000 sf, lot size is 8.4 acres; last sold for $13,458,000 in Dec. 2005 MTG: $29,300,000 from TD Bank ADD: 159 First St., Cambridge BWR: 159 First Street Associates, managed by James A. Malesich Jr.

BUYER: DWF II Synergy LLC, managed by DivcoWest and Synergy Development SELLER: W2005 BWH II Realty LLC, managed by Archon Group PRICE/ADD: $11,000,000; 327-335 and 337347 Summer St., Boston MTG: $5,850,000 from DWF III Synergy Lender LLC NOTES: Pair of office properties, const. 1911; 327-335 Summer St. building size is 46,125 sf, lot size is 6,550 sf; 337-347 Summer St. building size is 62,200 sf, lot size is 10,275 sf; portions of portfolio acquired by seller in Nov. 2005 MTG: $8,800,000 from Northern Bank & Trust Co. ADD: 859 Main St., Woburn BWR: 859 Main Development LLC, managed by Bryan E. Melanson and Scott L. Seaver BUYER: 319A Property Owner LLC, managed by DivcoWest and Synergy Development SELLER: W2005 BWH II Realty LLC, managed by Archon Group PRICE/ADD: $8,000,000; 319-321A St., Boston MTG: $5,850,000 from Divcowest Fund III REIT LP NOTES: Office property, const. 1913, renovated 2007; bldg. size is 48,325 sf, lot size is 1.3 acres; portion of portfolio acq. by seller in Nov. 2005

Photo: Derek Szabo

MTG: $18,000,000 from Principal Life Insurance Co. ADD: 600-638 Massachusetts Ave., Cambridge BWR: Central Square LLC, managed by Stuart W. Pratt, president MTG: $2,900,000 from East Boston SB ADD: 36-54 Broadway St., Malden BWR: Malway Realty Associates LP, managed by Deirdre Geoghegan MTG: $2,500,000 from Cape Cod Five Cents Savings Bank ADD: Woodridge Road, Duxbury BWR: Duxbury Residential LLC, managed by John C. Dawley and Richard A. Thomas MTG: $2,427,000 from Rockland Trust Co. ADD: Summer Street, Duxbury BWR: Giacchetto Duxbury LLC, managed by Thomas A. Giacchetto MTG: $2,100,000 from Bay State SB ADD: Barre-Paxton Road, Rutland BWR: Pleasantdale LLC, mgd. by Joseph Faucher Jr. MTG: $1,825,000 from Dedham Institution for Savings ADD: 626 Centre St., Boston BWR: Christos Stamatos and George Stamatos, trustees of the S-626 Centre Street Realty TR MTG: $1,744,500 from Webster Bank ADD: 43 Twin Diamond Dr., Bridgewater; and 32 and 46 North Manchester St., Brockton BWR: Daniel R. Evans Jr.

MTG: $7,425,000 from Eastern Bank ADD: 128 Derby St, Hingham BWR: Shulman Realty LLC, mgd. by Scott Shulman

MTG: $1,600,000 from The Cooperative Bank ADD: 177 Wells Ave., Newton BWR: JWD Wells Avenue LLC, managed by James W. Devaney

MTG: $4,008,000 from Cambridge Trust Co. ADD: 92-96 Prospect St., Somerville BWR: Two Squares LLC, mgd. by Bart Bussink

MTG: $1,525,000 from Salem Five Cents SB ADD: 26, 28-40, 42 and 44 Essex Rd., Ipswich BWR: John Bruni, trustee Southern Cross Realty TR

MTG: $1,240,000 from The Village Bank ADD: 138 Needham St., Newton BWR: Needham Street LLC, mgd. by Jay Derenzo MTG: $1,000,000 from Cathay Bank ADD: 81 and 83-99 East Cottage St., Boston BWR: Diamond 98 LLC, mgd. by Yu Liang Tseng

M AY 2 9 T H BUYER: BC Edmands House LLC, managed by Beacon Communities SELLER: Edmands House Apartments Associates, mgd. by Helen A. McCarthy, general partner PRICE/ADD: $22,000,000; 11-15 Edmands Rd., Framingham MTG: $20,180,000 from MHIC LLC NOTES: Multifamily property, constructed 1973; affordable housing development; 190 units; building size is 188,400 sf, lot size is 3.6 acres; seller acquired property in June 1973 BUYER: Heights Holding Co., managed by Michael E. Laub SELLER: Two Washington Place LLC, managed by William M. Whelan, Whelan Associates PRICE/ADD:31 Roche Brothers Way, a/k/a 2 Washington Pl., Easton and Stoughton MTG: $4,250,000 from RiverSource Life Insurance Co. NOTES: Medical office property, constructed 2008; building size is 42,125 sf, lot size is 3.8 acres MTG: $5,033,000 from Sovereign Bank ADD: 4-8 Gardner St., and 74-84 Harvard Ave., Boston BWR: Harvard Gardner LLC, managed by Austin M. O’Connor continued on page 19

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013

M AY 3 1 S T BUYER: Tom Dinwoodie and Diana Meservey SELLER: Howard Wolk PRICE/ADD: $3,710,000; 57 Francis Ave., Cambridge NOTES: Two-family Colonial, constructed 1913; building size is 6,100 sf, lot size is 10,750 sf; last sold for $1,698,000 in July 1999 BUYER: Benjamin C. Rubenstein SELLER: Thirty 2 Rutland Street LLC, managed by Yan Schechter PRICE/ADD: $2,750,000; 32 Rutland St., U1L, Boston MTG: $1,000,000 from Amerisave Mortgage Corp. NOTES: New unit in low-rise condominium; unit size is 3,450 sf; two bedrooms and 2.5 baths BUYER: Jeffrey D. Baker, trustee of Bradford Realty TR SELLER: David M. Caso and Deborah J. Caso PRICE/ADD: $2,096,000; 30 Bradford Rd., Duxbury NOTES: Single-family Cape, constructed 1976; house size is 3,100 sf, lot size is 1.2 acres; four bedrooms and 3.5 baths; sellers acquired property for $975,000 in May 2000 BUYER: Andrew M. Olmsted SELLER: Susan P. Poverman PRICE/ADD: $2,010,000; 65 Larchwood Dr., Cambridge MTG: $456,750 from Mortgage Master NOTES: Single-family Colonial, constructed 1923; house size is 3,025 sf, lot size is 7,900 sf; three bedrooms, two baths and two halfbaths; last sold for $875,000 in May 1996 BUYER: Aaron Joseph Levangie & Irene Levangie SELLER: Peter P. Gallo PRICE/ADD: $1,950,000; 6 Milford St., U-2, Boston NOTES: New unit in low-rise Milford Street condo; unit size is 2,175 sf; three bedrooms and 3.5 baths BUYER: Christopher Howard SELLER: Jay O. Hirsh, a/k/a Jay O. Hirsch PRICE/ADD: $1,925,000; 300 Commercial St., U-904, Boston NOTES: Unit in mid-rise Mariner condominium; unit size is 1,525 sf; two bedrooms and two baths; unit last sold for $1,475,000 in Aug. 2005 BUYER: Alan B. Curtis and Gail Eagan SELLER: John Cuming and Pamela Cuming PRICE/ADD: $1,910,000; 32 Union Pk., U-1, Boston MTG: $200,000 from Tremont Credit Union and $800,000 from Guaranteed Rate NOTES: Unit in low-rise condominium; unit size is 2,425 sf; four bedrooms, two baths and two half baths; unit last sold for $492,500 in May 1996; Declaration of Homestead

First Republic Bank financing of $1,060,000 has been used by borrowers Anna Perault and Donald Perault to buy 46 Beach Bluff Ave. in Swampscott for $1,325,000 from Pejman Talebian and Viktoria P. Talebian. Constructed in 1920, the 4,975-sf, three-bedroom home previously sold for $729,000 in July 2003.

BUYER: Tatiana Chara and Zdeno Chara SELLER: Michael Tatelman PRICE/ADD: $1,875,000; 2 Battery Wharf, U2304, Boston NOTES: Unit in mid-rise condominium; unit size is 1,825 sf; two bedrooms and 2.5 baths; unit last sold for $2,010,000 in June 2008 BUYER: Janice M. Van Ummersen and Scott D. Van Ummersen SELLER: SE Property Venture LLC, managed by Sawyer Enterprises PRICE/ADD: $1,730,000; 110 Stuart St., U18G, Boston MTG: $138,400 from Needham Bank NOTES: New unit in high-rise condominium; unit size is 1,875 sf; two bedrooms and 2.5 baths BUYER: Martha Southard and William Southard SELLER: Edward P. Dowd PRICE/ADD: $1,727,500; 65 East India Row, Units 17A and 17B, Boston MTG: $900,000 from Citibank NOTES: Units in high-rise Harbor Towers condominium; U 17A size is 750 sf; one bedroom and one bath; U 17B size is 1,650 sf; two bedrooms and 2.5 baths; units acquired for $475,000 in Aug. 1998 BUYER: Kasia Coulter and Martin Coulter SELLER: John Twomey & Meredith Sizer Twomey PRICE/ADD: $1,665,000; 131 Oliver Rd., Newton MTG: $750,000 from First Republic Bank

NOTES: Single-family Colonial, constructed 1938; house size is 3,100 sf, lot size is 12,175 sf; six bedrooms and 4.5 baths; sellersâ&#x20AC;&#x2122; ownership in property dates to Nov. 1972; Declaration of Homestead BUYER: Pamela M. Carroll SELLER: 6 Claremont Park LLC, managed by David L. Goldman PRICE/ADD: $1,660,000; 6 Claremont Pk., U2, Boston MTG: $900,000 from Premia Relocation Mortgage NOTES: New unit in two-unit condominium; unit size is 1,900 sf; two bedrooms and two baths BUYER: Noiha Cho SELLER: Elaine F. Dunn, trustee of Longfellow Road Realty TR PRICE/ADD: $1,610,000; 23-25 Longfellow Rd., Cambridge MTG: $805,000 from HSBC Bank USA NOTES: Two-family, const. 1930; building size is 3,050 sf, lot size is 4,575 sf; seller acquired property with Charles W. Dunn for $126,040 in July 1979 BUYER: Kyle Staller and Heather Wish SELLER: Edward Greif and Michelle Poole PRICE/ADD: $1,598,680; 25 Mostyn St., Swampscott NOTES: Single-family Colonial, constructed 1920; house size is 6,550 sf, lot size is 26,975 sf; six bedrooms and four baths; last sold for $1,650,000 in Feb. 2010 continued on page 11

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013 continued from page 10 BUYER: Frances Clay SELLER: C. William Carey, trustee of Carey Realty TR PRICE/ADD: $1,595,000; 2 Avery St., U-25-H, Boston NOTES: Unit in high-rise condominium; unit size is 1,575 sf; two bedrooms and 2.5 baths; unit last sold for $1,225,000 in May 2004 BUYER: Jessica Moy and Jonathan Moy SELLER: Christine S. Nelson, trustee 41 Young Road Realty TR PRICE/ADD: $1,555,000; 41 Young Rd., Weston MTG: $1,244,000 from The Village Bank NOTES: Single-family Colonial, constructed 1987; house size is 5,325 sf, lot size is 1.3 acres; five bedrooms and 4.5 baths; last sold for $1,000,000 in Feb. 1989; Declaration of Homestead BUYER: Michael Williams & Susan Hall Williams SELLER: Charlene K. Hyle and Charles Hyle PRICE/ADD: $1,480,000; 28 Marlborough St., U-1, Boston MTG: $1,020,750 from First Republic Bank NOTES: Unit in low-rise condominium; unit size is 1,700 sf; two bedrooms and 3.5 baths; unit last sold for $1,275,000 in May 2010 BUYER: Xiaomei Liu SELLER: Adrienne McGrath & John McGrath PRICE/ADD: $1,450,000; 95 Commonwealth Ave., Newton NOTES: Single-family Colonial, constructed 1920; house size is 3,175 sf, lot size is 13,000 sf; three bedrooms and 2.5 baths; last sold for $472,500 in July 1987; Declaration of Homestead BUYER: Amy Sussman and Justin Sussman SELLER: Alison Quade and Peter Spring Jr. PRICE/ADD: $1,385,000; 47 Milford St., U-3, Boston MTG: $1,108,000 from Mortgage Network Inc. NOTES: Unit in low-rise condominium; unit size is 1,700 sf; three bedrooms and 2.5 baths; unit last sold for $1,185,000 in Sept. 2010 BUYER: Lisa H. McDonough SELLER: John Noonan and Mary Jean Noonan PRICE/ADD: $1,345,000; 600 Tremont St., U-3, Boston NOTES: Unit in low-rise condominium; unit size is 1,950 sf; two bedrooms and 2.5 baths; unit last sold for $995,000 in April 2004 BUYER: Anna Perault and Donald Perault SELLER: Pejman Talebian and Viktoria Talebian PRICE/ADD: $1,325,000; 46 Beach Bluff Ave., Swampscott MTG: $1,060,000 from First Republic Bank NOTES: Single-family, constructed 1920; house size is 4,975 sf, lot size is 20,000 sf; three bedrooms and three baths; last sold for $729,000 in July 2003; Declaration of Homestead

Stephen Williamson has harvested 93 Adams St. in Lexington for $1,297,500, a nine-year-old Colonial bought for $1,352,000 in March 2004. Buyers Changappa Kodendera and Rina Kodendera received $1,000,000 from JPMorgan Chase Bank to facilitate their purchase of the 3,150-sf, four-bedroom residence.

BUYER: Judith Merra and Morgan Molloy Jr. SELLER: James J. Mawn and Douglas Adam Smith, trustees of Lincoln Road TR PRICE/ADD: $1,250,000; 377 Lincoln Rd., Sudbury MTG: $1,000,000 from Cambridge Savings Bank NOTES: Single-family Colonial, constructed 2012; house size is 5,300 sf, lot size is 40,075 sf; five bedrooms and 3.5 baths; property last sold for $477,000 in Aug. 2008; Declaration of Homestead BUYER: James M. McGlennon and Susan Ann D. McGlennon SELLER: Joseph E. Mirra and Veronica F. Mirra PRICE/ADD: $1,235,000; 145 Larch Rd., Cambridge NOTES: Two-family, constructed 1912; building size is 2,600 sf, lot size is 6,100 sf; sellersâ&#x20AC;&#x2122; family ownership in property dates to Aug. 1963 BUYER: Richard Bihrle SELLER: 43 Commercial Wharf Boston LLC, managed by Robert B. Kinlin PRICE/ADD: $1,150,000; 43 Commercial St., U-43-6, Boston MTG: $690,000 from JPMorgan Chase Bank NOTES: Unit in mid-rise condominium; unit size is 1,325 sf; one bedroom and one bath; unit last sold for $775,125 in June 2004 BUYER: Celia McGee and Henry McGee III SELLER: Bettina Igel and Brian W. Monnich PRICE/ADD: $1,145,000; 975 Memorial Dr., U-408, Cambridge

NOTES: Unit in high-rise condominium; unit size is 1,100 sf; one bedroom and one bath; unit last sold for $404,500 in Feb. 1988 BUYER: Celine Nussbaum & Sebastien Nussbaum SELLER: NRHS Development LLC, mgd. by Debra Johar PRICE/ADD: $1,195,000; 57 Reed St., Lexington MTG: $745,000 from Fairway Independent Mortgage Corp. NOTES: Single-family, constructed 2013; house size is 3,725 sf, lot size is 6,525 sf; five bedrooms and 3.5 baths; property last sold for $380,000 in March 2012; Declaration of Homestead BUYER: Colin Connolly and Nathalie Roy SELLER: Gaudenz Danuser PRICE/ADD: $1,100,000; 65 Prentiss St., Cambridge MTG: $880,000 from Mortgage Master NOTES: Single-family, constructed 1886; house size is 2,025 sf, lot size is 2,000 sf; four bedrooms and 2.5 baths; last sold for $980,000 in Aug. 2009; Declaration of Homestead BUYER: Amy-Lynn Remondi & Christopher Remondi SELLER: Andrew Littlehale & Nancy Littlehale PRICE/ADD: $1,105,000; 80 Bridge St., Hamilton MTG: $884,000 from Mortgage Master NOTES: Single-family Cape, const. 2002; house size is 3,775 sf, lot size is 25,275 sf; four bedrooms & 2.5 baths; last sold for $1,244,100 in July 2008 continued on page 12

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013 continued from page 11 BUYER: Shams I. Iqbal and Mariam Mashkoor SELLER: Preme Mehta PRICE/ADD: $1,047,000; 198 Burlington St., Lexington MTG: $837,600 from Salem Five Mortgage Co. NOTES: Single-family Colonial, constructed 2002; house size is 3,025 sf, lot size is 35,275 sf; four bedrooms and 2.5 baths; last sold for $782,500 in Oct. 2002; Declaration of Homestead BUYER: Shirley Jung Chan, trustee of the Joseph & Selina Chow Descendants GST-Exempt Irrevocable TR SELLER: Denise Wilson and Gerard Wilson PRICE/ADD: $1,000,000; 285 Columbus Ave., U-806, Boston NOTES: Unit in mid-rise condominium; unit size is 1,175 sf; two bedrooms and two baths; unit last sold for $942,500 in Feb. 2009

M AY 3 0 T H BUYER: Agnieszka Van Bergh & James Van Bergh SELLER: Stefco Homes Inc., managed by Stefano Efstratoudakis, president and treasurer PRICE/ADD: $3,725,000; 20 Claremont St., Newton NOTES: Single-family Colonial, const. 2012; house size is 8,100 sf, lot size is 25,275 sf; six bedrooms, six baths and two half-baths; portion of property acquired by seller for $1,400,000 in Aug. 2010 BUYER: Falconi Development LLC, managed by Robert J. Falconi and Jeanne F. Schmidt SELLER: David Fitts and Janice Mather, Personal Representatives of the Estate of Eric Sandquist PRICE/ADD: $3,000,000; 610 Harland St., Milton NOTES: Land parcel; lot size is 7.8 acres; last sold for $384,000 in Oct. 1984 BUYER: Alexander Brackenridge and Heidi Brackenridge SELLER: 139 Warren Development LLC, managed by Sean Kennedy PRICE/ADD: $2,820,000; 139 Warren Ave., Boston NOTES: Single-family; house size is 3,800 sf, lot size is 1,300 sf; four bedrooms and 3.5 baths; property last sold for $1,425,000 in April 2012; Declaration of Homestead BUYER: Kristin Hendler and Samuel Hendler SELLER: Judith A. Vann and Martin H. Vann PRICE/ADD: $1,999,000; 84 Beard Way, Needham MTG: $1,599,200 from First Republic Bank NOTES: Single-family, constructed 2005; house size is 5,475 sf, lot size is 1.1 acres; five bedrooms, six baths and two half baths; last sold for $2,300,000 in Nov. 2005; Declaration of Homestead MTG: $1,900,000 from Avidia Bank ADD: 150 Countryside Rd., Newton BWR: Inbal Rabinovitz and Zori Rabinovitz

An imposing single-family Colonial at 6 St. Thomas More Dr. in Winchester has fetched $1,500,000 in its sale to Hok Mo Lee and Yin Kum Lee from Robert J. Francini and Yuk Kam Francini. Dating to 1997, the 4,175-sf, five-bedroom residence sits on a half-acre parcel near Route 3 and the Woburn Plaza retail plaza.

MTG: $1,870,000 from Enterprise Bank & Trust Co. ADD: 80 Saile Way, North Andover BWR: Paul M. Russell and Shelly R. Russell BUYER: Raymond Kwasnick & Susan Kwasnick SELLER: Ann-Britt Hasselgren & Per-Olof Hasselgren PRICE/ADD: $1,825,000; 4 Battery Wharf, U4403, Boston MTG:$475,000 and $800,000 from Boston Private Bank & Trust Co. NOTES: Unit in mid-Rise Battery Wharf condominium; unit size is 1,675 sf; two bedrooms and 2.5 baths; units last sold for $1,490,000 in March 2010 BUYER: Greenwich Mainsail LLC, managed by James E. Keliher SELLER: Christopher R. Yens PRICE/ADD: $1,750,000; 18 Greenwich Pk., Boston MTG: $2,240,500 from Dedham Institution for Savings NOTES: Multifamily property, constructed 1920, renovated 2005; building size is 2,100 sf, lot size is 2,200 sf; last sold for $516,000 in June 1996 BUYER: Ana Weatherley and Craig Weatherley SELLER: Arthur Hodges and Eloise Hodges PRICE/ADD: $1,675,000; 70 Mount Vernon St., U-4A-70, Boston MTG: $1,000,000 from Cape Cod Five Cents Savings Bank NOTES: Unit in mid-rise condominium; unit size is 1,800 sf; two bedrooms and two baths; unit last sold for $1,050,000 in Dec. 2001

BUYER: Thomas E. Berube SELLER: Susan Avellar PRICE/ADD: $1,600,000; 403 Commercial St., Provincetown MTG: $1,200,000 from TD Bank NOTES: Single-family Antique, constructed 1840; house size is 2,425 sf, lot size is 3,450 sf; four bedrooms and three baths; sellerâ&#x20AC;&#x2122;s family ownership in property dates to Feb. 1977 BUYER: Ok-Kyong Elaine Lee and Robin J. Pak SELLER: Joseph Barr, trustee of J. Realty TR PRICE/ADD: $1,559,000; 32 Laconia St., Lexington MTG: $1,169,250 from Wells Fargo Bank NOTES: Single-family Colonial, constructed 2013; house size is 4,600 sf, lot size is 13,075 sf; five bedrooms and 4.5 baths; property last sold for $525,000 in Sept. 2012 BUYER: Rick G. Bowers Jr., and Ann B. Spence SELLER: Jeanne Ciccone and James Kras PRICE/ADD: $1,550,000; 110-112 Beacon St., U-4, Boston MTG: $700,000 from First Republic Bank NOTES: Unit in mid-rise Ottello condominium; unit size is 2,825 sf; two bedrooms and two baths; unit last sold for $1,182,500 in Dec. 2010 BUYER: John M. Willett and Juidith G. Willett SELLER: Altair Associates Inc., managed by John M. Willett, president and treasurer PRICE/ADD: $1,500,000; 287 Waban Ave., Newton MTG: $200,000 from Tremont Credit Union continued on page 13

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013 continued from page 12 NOTES: Single-family Colonial, constructed 2012; house size is 3,175 sf, lot size is 10,075 sf; four bedrooms and four baths; property last sold for $643,500 in Oct. 2011; Declaration of Homestead BUYER: Josef Simon and Patricia Tung SELLER: Ellen G. Moot PRICE/ADD: $1,370,000; 44 Coolidge Hill Rd. Cambridge MTG: $1,096,000 from TD Bank NOTES: Single-family, constructed 1917; house size is 2,800 sf, lot size is 7,875 sf; five bedrooms, two baths and two half-baths; seller inherited property in July 1968; Declaration of Homestead BUYER: Fradique A. Rocha SELLER: Donald R. Charlebois PRICE/ADD: $1,350,000; 500 Atlantic Ave., U-18D, Boston MTG: $500,000 from Tremont Credit Union NOTES: Unit in high-rise InterContinental condominium; unit size is 1,500 sf; two bedrooms and two baths; unit last sold for $1,275,000 in June 2007 BUYER: Kelly J. Ozmun and Robert C. Ozmun SELLER: Denise Fitzgerald and James Fitzgerald PRICE/ADD: $1,347,500; 14 Andrea Dr., Hopkinton MTG: $1,078,000 from Wells Fargo Bank NOTES: Single-family Colonial, constructed 1998; house size is 7,075 sf, lot size is 1.2 acres; four bedrooms and five baths; property last sold for $230,000 in Nov. 1996; Declaration of Homestead BUYER: Iman El Hariry SELLER: Zachary J. Harvey PRICE/ADD: $1,300,000; 110 Stuart St., U17A, Boston MTG: $1,040,000 from Lake Sunapee Bank NOTES: Unit in high-rise condo; unit size is 1,450 sf; two bedrooms and two baths; unit last sold for $860,000 in Oct. 2010; Declaration of Homestead BUYER: Jennifer Greene and Michael Greene SELLER: Cindy Hannigan & Thomas Hannigan Jr. PRICE/ADD: $1,253,000; 95 Falcon St., Needham MTG: $825,000 from Bank of America NOTES: Single-family Colonial, constructed 2001; house size is 3,775 sf, lot size is 13,500 sf; five bedrooms and 3.5 baths; last sold for $931,350 in May 2001; Declaration of Homestead BUYER: Changappa Kodendera & Rina Kodendera SELLER: Stephen Williamson PRICE/ADD: $1,297,500; 93 Adams St., Lexington MTG: $1,000,000 from JPMorgan Chase Bank NOTES: Single-family Colonial, constructed 2004; house size is 3,150 sf, lot size is 21,700 sf; four bedrooms and 3.5 baths; last sold for $1,352,000 in March 2004; Declaration of Homestead

A single-family home at 65 Larchwood Dr. in Cambridge is under new ownership following its purchase by Andrew M. Olmsted for $2,010,000, backed by $456,750 from Mortgage Master. Seller Susan P. Poverman had held the property since paying $875,000 in May 1996. The 90-year-old Colonial has three bedrooms, two baths and two half-baths in its 3,025-sf frame.

MTG: $1,295,000 from Morgan Stanley Bank ADD: 28 Main St., Wenham BWR: Hope Bachelder and Robert Bachelder MTG: $1,125,000 from Wells Fargo Bank ADD: 180 Pond St., Boston BWR: Steven P. Treon BUYER: Jessica Garten and Steven Garten SELLER: Marilyn French PRICE/ADD: $1,220,000; 15 Mansion Dr., Topsfield BUYER: Philip J. Minervino SELLER: 2199 Corp, trustee of WHW TR, Mary Hayes Walsh, president PRICE/ADD: $1,160,000; 26 Hurlbut St., U-2, Cambridge MTG: $760,000 from First Republic Bank NOTES: Unit in low-rise condominium; unit size is 1,100 sf; two bedrooms and one bath BUYER: Katherine Shea SELLER: David Schmelzer & Grace Schmelzer PRICE/ADD: $1,136,800; 67 Goden St., Belmont MTG: $417,000 from Mortgage Master NOTES: Single-family, constructed 1901; house size is 2,625 sf, lot size is 8,175 sf; six bedrooms and two baths; last sold for $1,087,000 in July 2005; Declaration of Homestead BUYER: Lynn Kari Hironaka & Michael Silverstein SELLER: Louis J. Woolf and Sarah Woolf PRICE/ADD: $1,116,000; 69 Morse Rd., Newton MTG: $550,000 from First Republic Bank

NOTES: Single-family Colonial, constructed 1940; house size is 2,950 sf, lot size is 9,925 sf; four bedrooms, three baths and two halfbaths; last sold for $345,000 in May 1986; Declaration of Homestead BUYER: Peter C. Forkner SELLER: Jose Varghese and Suzanne Varghese PRICE/ADD: $1,100,000; 16 Durham St., U-1, Boston NOTES: Unit in low-rise condominium; unit size is 1,500 sf; two bedrooms and 1.5 baths; unit last sold for $945,000 in July 2005 MTG: $1,100,000 from Northmark Bank ADD: 18 Glen Rd., Winchester BWR: Bradley M. Boyd and Kerry L. Boyd MTG: $1,070,000 from Rockland Trust Co. ADD: 55 Forest Ridge Rd., Weston BWR: Robert G. Maguire BUYER: Kailey Lynn Theriault SELLER: Pauline Donnelly and Joseph Selvaggi PRICE/ADD: $1,050,000; 49 Beacon St., U-3, Boston NOTES: Unit in low-rise condo; unit size is 875 sf; two bedrooms and 1.5 baths; unit last sold for $675,000 in April 2007; Declaration of Homestead MTG: $1,049,000 from Mortgage Network ADD: 287 Nahant Rd., Nahant BWR: Helen L. Tidd and Scott A. Tidd continued on page 14

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MAY 28 - MAY 31, 2013 continued from page 13 BUYER: James J. Yashar SELLER: Susan Frigoletto PRICE/ADD: $1,040,000; 41 Union St., Charlestown MTG: $417,000 from Navigant Credit Union NOTES: Single-family brick Rowhouse, constructed 1996; house size is 2,250 sf, lot size is 1,750 sf; last sold for $842,500 in Aug. 2004 MTG: $1,028,500 from Brookline Bank ADD: 16 and 18 South St., Marion BWR: Christopher Shachoy & Meredith Clark Shachoy BUYER: Karen Rapuano and Michael Rapuano SELLER: Susanne Hafer and Zachary Hafer PRICE/ADD: $1,009,000; 6 Monument St., Charlestown MTG: $634,000 from Poli Mortgage Group NOTES: Single-family Colonial, const. 1850; unit size is 1,675 sf, lot size is 1,875 sf; three bedrooms and 2.5 baths; last sold for $800,000 in March 2008

M AY 2 9 T H BUYER: Theodore Burke & Theresa Anne Smith SELLER: Carla Herwitz and Joan Sonnabend PRICE/ADD: $3,710,000; 27 Chestnut St., and 70-72 Mt. Vernon St., U-5A-70-72, Boston MTG: $1,400,000 from Bank of America NOTES: Unit in mid-rise condo; unit size is 4,025 sf; five bedrooms and 4.5 baths; unit last sold for $175,000 in Sept. 1974; Declaration of Homestead BUYER: Gregory Jonas and Diana Scott SELLER: Sandra C. Steele PRICE/ADD: $2,800,000; 300 Boylston St., U905, Boston NOTES: Unit in mid-rise Heritage on the Garden condo; unit size is 1,925 sf; two bedrooms and 2.5 baths; unit last sold for $2,450,000 in July 1999 BUYER: Christopher Pongratz & Kimberly Pongratz SELLER: Baldwin Equities LLC, mgd. by Mark Friedell PRICE/ADD: $2,158,075; 385 Elm St., Concord MTG: $1,000,000 from Electra Capital NOTES: Single-family Dutch Colonial, constructed 2012; house size is, 6,325 sf, lot size is 41,825 sf; six bedrooms and 6.5 baths; property last sold for $725,000 in April 2012 BUYER: Eric B. Lev and Michelle H. Lev SELLER: Davlew Development LLC, managed by Jonathan G. Davis PRICE/ADD: $2,100,000; 130 Temple St., Newton MTG: $1,000,000 from JPMorgan Chase Bank NOTES: Sgl.-family Victorian, const. 1880; house size is 4,450 sf, lot size is 14,475 sf; six bdrms., four baths & two half-baths; sold for $900,000 in Sept. 2011 MTG: $2,000,000 from JPMorgan Chase Bank ADD: 21 Commercial Wharf, Nantucket

Salem Five Mortgage Co. has provided Charles R. Lawson $750,000 to buy 62 Colony Rd. in Lexington for $1,265,000 from Sherry Grobstein, who paid $236,000 for the property in July 1991, the same year the structure was completed on a 20,050-sf parcel. Sixty Two Colony Rd. is a 4,375-sf property with four bedrooms and three baths.

BWR: Richard G. Corey, trustee of Twenty-One Commercial Wharf Nominee TR BUYER: Trustees of Boston College SELLER: Cutberto Garza and Yolanda C. Garza PRICE/ADD: $1,959,000; 339 Hammond St., Newton NOTES: Single-family Colonial, constructed 1938; house size is 3,800 sf, lot size is 16,925 sf; five bedrooms and 5.5 baths; last sold for $1,900,000 in Nov. 2005 BUYER: Claude Staehly and Katherine Staehly SELLER: Ralph Earle Jr. and Shirley Smith Earle PRICE/ADD: $1,900,000; 44 Ripley Ln., Weston MTG: $200,000 from Cambridge Trust Co. NOTES: Antique Colonial, const. 1740; house size is 3,500 sf, lot size is six acres; six bdrms. and 4.5 baths; sellers’ ownership in property dates to Dec. 1969 BUYER: Peter Principato SELLER: Mary Lombardi and Primo Lombardi PRICE/ADD: $1,875,000; 33 Abel’s Neck Rd., Chilmark MTG: $1,695,000 from BNY Mellon ADD: 465 Glen Rd., Weston BWR: Michelle Lynne Garfinkel & Steven Garfinkel BUYER: Kristin Schreiber and Paul Wacnik SELLER: Alan Rothstein and Natalie Rothstein PRICE/ADD: $1,570,000; 57 York Ter., Brookline MTG: $1,777,500 from Fairway Independent Mortgage Corp.

NOTES: Single-family, constructed 1895; house size is 5,150 sf, lot size is 22,700 sf; seven bedrooms and two baths; sellers’ ownership in property dates to Dec. 1965; Declaration of Homestead BUYER: Hok Mo Lee and Yin Kum Lee SELLER: Robert Francini and Yuk Kam Francini PRICE/ADD: $1,500,000; 6 St. Thomas More Dr., Winchester NOTES: Single-family Colonial, constructed 1997; house size is 4,175 sf, lot size is 21,400 sf; five bedrooms and 3.5 baths; property last sold for $315,000 in Jan. 1997; Declaration of Homestead MTG: $1,474,500 from Luxury Mortgage Corp. ADD: 1 Buckingham Ter., Wellesley BWR: Jill D. Creevy and William R. Creevy BUYER: Tryfan D. Evans and Holly H. Morrow SELLER: Caroline Darbyshire & Matthew Genta PRICE/ADD: $1,433,500; 11 Boulder Rd., Wellesley MTG: $1,146,800 from First Republic Bank NOTES: Single-family Tudor, constructed 1923; house size is 4,225 sf, lot size is 23,250 sf; five bedrooms and 5.5 baths; last sold for $1,500,000 in March 2005; Declaration of Homestead BUYER: Allison Koskinas and Gregory Koskinas SELLER: David M. Joy and Michele K. Joy PRICE/ADD: $1,410,000; 7 Indian Rock Ln., Hingham MTG: $1,128,000 from First Republic Bank continued on page 15

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MARCH 30 - APRIL 5, 2010 continued from page 14 NOTES: Single-family Colonial, constructed 1989; house size is 3,700 sf, lot size is 1.5 acres; four bedrooms and 3.5 baths MTG: $1,348,000 from Poli Mortgage Group ADD: 30 Colburn Rd., Wellesley BWR: Shaune Marie Berg and Steven T. Berg BUYER: Albert D. Mendelsohn, trustee of 71 Vista Avenue Realty TR SELLER: Newton-Wellesley Hospital, managed by Gerard F. Hadley PRICE/ADD: $1,317,000; 71 Vista Ave., Newton MTG: $1,380,110* from MutualOne Bank NOTES: Single-family Ranch, constructed 1955; house size is 2,550 sf, lot size is 36,450 sf; four bedrooms and 4.5 baths; property donated to seller in Dec. 1993; *mortgage also covers 11 Concolor Ave. and 154 Paulson Rd., Newton, existing single-family properties owned by borrower BUYER: Karen C. Lee and Liane Young SELLER: Michael Strong and Nancy Strong PRICE/ADD: $1,295,000; 10 Louis Dr., Wellesley NOTES: Single-family Colonial, constructed 1994; house size is 3,675 sf, lot size is 10,050 sf; four bedrooms and 2.5 baths; Declaration of Homestead MTG: $1,233,000 from JPMorgan Chase Bank ADD: 4 Cobblestone Cir, Wayland BWR: Neil F. Hornstein and Sharon B. Weil BUYER: Ankur Bhargava and Stuti Bhargava SELLER: James J. Deveney and Nathalie Safar, f/k/a Nathalie Safar-Deveney PRICE/ADD: $1,233,000; 24 Fox Meadow Ln., Wayland MTG: $976,000 from MSA Mortgage NOTES: Single-family Colonial, constructed 2006; house size is 5,175 sf, lot size is 2.1 acres; four bedrooms and 2.5 baths; property last sold for $740,000 in Aug. 2004; Declaration of Homestead MTG: $1,220,000 from First Republic Bank ADD: 94 Walnut Pl., Brookline BWR: Alexander Preble Jaques and Jessica Colt Shattuck BUYER: Kezhen Guo and Ping Jiang SELLER: Lemonias Development Corp., managed by John Lemonias PRICE/ADD: $1,190,000; 157 Koning Farm Rd., Carlisle MTG: $892,500 from Washington Trust Co. NOTES: Sgl.-family Colonial, const. 1913; house size is 5,000 sf, lot size is 5.8 acres; five bdrms. and 3.5 baths; portion of property acq. by seller in Jan. 2006 MTG: $1,150,000 from Cape Cod Five Cents Savings Bank

After 25 years, Bettina Igel and Brian W. Monnich have sold their unit at the high-rise 975 Memorial Dr. condominium in Cambridge, securing $1,145,000 for Unit 408, an 1,100-sf, one-bedroom unit purchased in Feb. 1988 at a price of $404,500. The buyers are Celia B. McGee and Henry W. McGee III.

ADD: 15 Tamarack Rd., Weston BWR: Bradford Spencer and Victoria Spencer

ADD: 314 Otis St., Newton BWR: Angela Falchuk and Jason Falchuk

BUYER: Amie Saphire and Jonathan Saphire SELLER: Beverly B. Kinraide, Executrix under the Will of Phyllis G. Brookfield PRICE/ADD: $1,125,000; 168 Massapoag Ave., Sharon MTG: $840,000 from EverBank NOTES: Sgl.-family Colonial, const. 1900; house size is 3,575 sf, lot size is four acres; seven bdrms. & three baths; sellerâ&#x20AC;&#x2122;s family ownership dates to Jan. 1956

MTG: $1,009,000 from US Bank ADD: 11 Linnaean St., Cambridge BWR: Jie Lu and Eugene Wang

BUYER: Elizabeth Egan and Gerald F. Egan SELLER: Jeanne Campbell and Richard Campbell PRICE/ADD: $1,100,000; 40 York St., Nantucket MTG: $625,000 from Cape Cod Five Cents SB NOTES: Single-family, constructed 1932; house size is 1,625 sf, lot size is 9,575 sf; three bedrooms and two baths; property last changed hands in Aug. 1967 BUYER: Celtic Vision Realty LLC, managed by Brian J. Walsh and Ellen D. Walsh SELLER: Anthony Tedeschi PRICE/ADD: $1,047,800; 741-753 East Fifth St., Boston NOTES: Two-family, constructed 1900; building size is 2,500 sf, lot size is 2,800 sf; last sold for $829,000 in Oct. 2004 MTG: $1,039,000 from First Republic Bank

MTG: $1,000,000 from Washington Trust Mortgage Co. ADD: 257 Nashoba Rd., Concord BWR: Astrid Behnam and Michael Behnam MTG: $1,000,000 from Cape Cod Five Cents Savings Bank ADD: 38 Burnell St., Nantucket BWR: Timothy Carruthers and Elizabeth Weiss MTG: $1,000,000 from RBS Citizens ADD: 7 Stonecrest Dr., Needham BWR: Carol A. Carlson and Steven W. Carlson BUYER: Kevin J. Routhier and Tracy Routhier SELLER: GD Fox Meadow LLC, managed by Matthew Lawrence PRICE/ADD: $1,000,000; 8 Fox Meadow Dr., Westwood MTG: $2,120,000 from Needham Bank NOTES: Land parcel; lot size is 1.4 acres MTG: $1,000,000 from First Niagara Bank ADD: 823 Newton St., Brookline BWR: Aneesa Kazi and Mashhour Moukaddem continued on page 16

THE REAL REPORTER

June 7, 2013

Residential Deals MILLION DOLLAR MORTGAGES/SALES MARCH 30 - APRIL 5, 2010 continued from page 15

M AY 2 8 T H BUYER: Joseph M. Sedlack, trustee of Sixty Six Sparks Street Nominee TR SELLER: Anthony Hixon PRICE/ADD: $5,000,000; 66 Sparks St., Cambridge NOTES: Two-family Victorian, constructed 1873; building size is 5,250 sf, lot size is 14,325 sf; last sold for $1,100,000 in Oct. 1988

MTG: $4,000,000 from First Republic Bank ADD: 2 Avery St., U-PH2A, Boston BWR: Seth Gelber, trustee of Sextant Properties TR BUYER: Jane C. Linder and Mont M. Phelps SELLER: Frank X. Keimig and George N. Famelitis, a/k/a George N. Fame PRICE/ADD: $3,200,000; 365 Atlantic Ave., Cohasset MTG: $2,240,000 from Bank of America NOTES: Single-family Tudor, const. 1920; house size is 3,025 sf, lot size is 1.5 acres; four bedrooms and four baths; last sold for $711,000 in Feb. 1993 BUYER: Joseph Rogers Jr. and Kelly Rogers SELLER: David B. McNally PRICE/ADD: $2,750,000; 9 Crofton Rd., Newton MTG: $2,200,000 from First Republic Bank NOTES: Single-family Colonial, constructed 1870; house size is 5,525 sf, lot size is 38,075 sf; eight bedrooms and 5.5 baths; last sold for $3,000,000 in Oct. 2007; Declaration of Homestead BUYER: Elizabeth Halstead and Lorraine Jones SELLER: Prudence Baxter PRICE/ADD: $1,730,000; 25 Brewster St., Cambridge MTG: $1,275,000 from Wells Fargo Bank NOTES: Sgl.-family Victorian, const. 1885; house size is 2,850 sf, lot size is 4,425 sf; five bedrooms and 3.5 baths; last sold for $650,000 in Jan. 2003 MTG: $1,517,700 from the Cooperative Bank ADD: 5 Albion Pl., Boston BWR: Derek Gallagher and Carla Ryan MTG: $1,375,500 from Northern Trust Co. ADD: 385 Shorewood Dr., Falmouth BWR: Virginia M. Frisoli

Photo: Derek Szabo

BUYER: Chien-Wei Eric Liao and Lillian Liao SELLER: Katherine Wenger PRICE/ADD: $1,925,000; 123 Albion Rd., Wellesley MTG: $1,540,000 from First Republic Bank NOTES: Single-family Colonial, constructed 1999; house size is 4,725 sf, lot size is 22,450 sf; four bedrooms, three baths and two halfbaths; property last sold for $525,000 in Oct. 1998; Declaration of Homestead

BUYER: Gilles Widawski and Laura Widawski SELLER: Elaine Ellis and John Ellis PRICE/ADD: $1,290,000; 27 Maple St., Lexington MTG: $810,000 from First Republic Bank NOTES: Single-family Colonial, constructed 1800, house size is 4,125 sf, lot size is 23,950 sf; three bedrooms and 2.5 baths; last sold for $600,500 in June 2001; Declaration of Homestead BUYER: Charles R. Lawson SELLER: Sherry Grobstein PRICE/ADD: $1,265,000; 62 Colony Rd., Lexington MTG: $750,000 from Salem Five Mortgage Co. NOTES: Single-family Colonial, const. 1991; house size is 4,375 sf, lot size is 20,050 sf; four bedrooms and three baths; property last sold for $236,000 in July 1991; Declaration of Homestead

BUYER: Evan Lippman and Meghan Lippman SELLER: Edmund Byrne and Tracy Byrne PRICE/ADD: $1,050,000; 22 Chamberlain Run, Hingham MTG: $840,000 from NE Moves Mortgage NOTES: Single-family Colonial, constructed 1979; house size is 3,225 sf, lot size is 1.7 acres; four bedrooms and 2.5 baths; last sold for $1,125,000 in July 2005 MTG: $1,040,000 from JPMorgan Chase Bank ADD: 304 Ocean Ave., Marblehead BWR: Catherine Ianchulev and Stefan Ianchulev MTG: $1,035,000 from The Village Bank ADD: 105 Sunset Ln., Barnstable BWR: Salvatore G. Viscomi

BUYER: Steven Szymanski & Tricia Szymanski SELLER: Ellen Massarsky and Yefim Massarsky PRICE/ADD: $1,200,000; 21 Goddard St., Newton MTG: $900,000 from Bank of America NOTES: Single-family Colonial, constructed 1927; house size is 2,975 sf, lot size is 8,000 sf; five bedrooms and four baths; last sold for $390,000 in May 2012; Declaration of Homestead

BUYER: Joseph W. Sack and Randi E. Sack SELLER: Jean Kofol and Milan Kofol PRICE/ADD: $1,000,000; 400 Stuart St., U17K, Boston MTG: $500,000 from Brookline Bank NOTES: Unit in high-rise condominium; unit size is 850 sf; one bedroom and one bath; unit last sold for $825,000 in May 2011

BUYER: Jana C. Leary and Timothy J. Leary SELLER: Kenneth E. Karger and Margery A. Karger, a/k/a Margery B. Karger PRICE/ADD: $1,025,000; 41 Dorset Rd., Newton MTG: $465,750 from Leader Bank NOTES: Single-family Tudor, const. 1927; house size is 2,550 sf, lot size is 24,925 sf; four bedrooms and 2.5 baths; Declaration of Homestead

MTG: $1,000,000 from Peopleâ&#x20AC;&#x2122;s United Bank ADD: 40 Grove St., Lexington BWR: Vidhyadhar Mitta MTG: $1,000,000 from Mortgage Equity Partners ADD: 99 Codman Rd., Brookline BWR: Michael J. Kirk

ADVERTISING INFO: ADS@THEREALREPORTER.COM

THE REAL REPORTER

June 7, 2013

Massachusetts Corporations Organized May 27 - May 31, 2013 Corporation

Directors/Registered Agents

Address

Faros-Belvidere LLC

Alan M. Leventhal, manager

C/o Beacon Capital Partners @ 200 State St., 5th floor, Boston MA 02109 Real estate

Nature of Business

Campanelli-Trigate Heritage Quincy LLC

Daniel R. DeMarco and Stephen J.R. Murphy, signatories

1 Campanelli Dr., Braintree MA 02184

CWCapital Asset Management LLC

Jonathan Ashley, Constantine Dakolias, David Ianarone, 1345 Ave. of the Americas, 46th floor, NYC 10105 Gordon Smith, Charles Spetka and Anthony Tufariello, mgrs.

Financial services, incl. asset management, special servicing and investment activities, including research and underwriting

Cole MT Stoughton MA LLC

Christopher Cole, manager

2325 East Camelback Rd., Ste. 1100, Phoenix AZ 85016

Hold, lease, mortgage and sell real property

Brookwood Texas Investors LLC

Thomas Brown, Thomas Trkla and Kurt Zernich, signatories

72 Cherry Hill Dr., Beverly MA 01915

Acquire, operate and own real estate

Carey REIT II Inc.

Trevor P. Bond, president; Susan C. Hyde, secretary; Mark J. Decesaris and Thomas E. Zacharias, directors

50 Rockefeller Plaza, 2nd floor, NYC 10020

Real estate investment

Herb Chambers Boston Turnpike Inc.

Herbert G. Chambers, president and treasurer; James A. Duchesneau, secretary

825 Providence Hwy., Dedham MA 02026

Auto dealership

M Moser Architects PLLC

Moira M. Moser and John M. Sellery, signatories

14/F N Somerset, 979 King's Rd., Quarry Bay, Hong Kong, China

The Blue River Group LLC

Jonathan Clay, Robert Feinstein and Helari Leroux, managers 1950 North Park Place SE, Bldg. 600, Atlanta GA 30339

Commercial general contractor

BCSP 7/9 Channel Center Property LLC

Philip J. Brannigan Jr., Nancy J. Broderick, Jeffrey D. Brown, Beacon Capital Partners @ 200 State St., Boston MA 02109 Matthew T. Golden and Andrew J. Moore, signatories

Deal in real property

BCSP 10/20 Channel Center Property LLC Philip J. Brannigan Jr., Nancy J. Broderick, Jeffrey D. Brown, Beacon Capital Partners @ 200 State St., Boston MA 02109 Matthew T. Golden and Andrew J. Moore, signatories

Deal in real property

Architecture

United Home Loans Inc.

Michael A. Dulla, pres. and treas.; Sarah Heinz, sec.

3 Westbrook Corporate Center, #1010, Westchester IL 60154

Loan servicing

Huntley Hope Properties LLC

Mark Grotevant and Sharon Grotevant, managing directors

51 Pondfield Rd., Bronxville NY 10708

Real estate investment

360 Cedar Hill Holdings-3 LLC

Thomas Barrack Jr., Henry Brauer, Scott Freeman, Mark Harmeling, Mark Hedstrom, Richard Saltzman, Ronald Sanders, et al signatories

C/o Colony Realty Partners III REIT @ 2450 Broadway, 8th floor, Santa Monica CA 90404

Manage and own real estate

Mill Road Apartment Homes LLC

Andrew M. Chaban, president

1115 Westford St., Lowell MA 01851

Manage and own real estate

173 Atlantic Ave. Realty Trust

Holly T. Cummings, manager

6 Fairway Dr., Westport MA 02790

Deal with certain real property at 173 Atlantic Ave., Westport MA

IT 112 Commerce Way LLC

William Prendergast, manager

C/o Integrated Properties @ 800 Third Ave., 17th floor, NYC 10022; William Predergast @ 131 Dartmouth St., Boston MA 02116

Invest in and manage real estate

Parkside Lending LLC

Matthew Ostrander, manager

180 Redwood St., Ste. 350, San Francisco CA 94102

Mortgage lending

Gables GP Inc.

Susan Ansel, president; Dawn Severt, treasurer and secretary 2650 Cedar Springs Rd., Ste. 800, Dallas TX 75201

Westwood Gables LLC

Susan Ansel, president; Dawn Severt, treasurer and secretary 2650 Cedar Springs Rd., Ste. 800, Dallas TX 75201

Deal in real property

West Cedar BF Select II - 2013 LP

Michael H. Gladstone, general counsel

C/o Boston Financial Investment Management LP @ 101 Arch St., 13th floor, Boston MA 02110

Deal with real estate

58 McDonald Street LLC

Lydia Nicolazzo and Nicola Nicolazzo, managers

58 McDonald St., Dedham MA 02026

Real estate and interests therein

Parcel 24 South LLC

Janet F. Aserkoff Esq., resident agent

C/o New Boston Fund @ 75 State St., Boston MA 02109

Acquire, hold, lease, mortgage and sell RE

Druk Holdings LLC

Krishan Jhalani, manager

28 John St., Brookline MA 02446

Buy and lease commercial real estate

Difante Associates LLC

Anthony R. Difanti, manager

Principal office @ 647 Oaklawn Ave., Cranston RI 02920; MA office @ 1597 Washington St., Boston MA 02118

Lease and own commercial real estate

Deal in real property

Capital Development Group LLC

Ralph Sevinor, manager

505 Paradise Rd., Swampscott MA 01907

Real estate and interests therein

77 Salisbury Road LLC

Sharona Taieb, manager

42 Griggs Ter., Brookline MA 02446

Deal in real property

Cathedral Place LLC

Oleg Gorelick, manager

1 Savel Ln., Sharon MA 02026

Real estate activities

339 Quarry Street LLC

Peter M. Palmer, manager

21 Wingate St., Haverhill MA 01832

Buy, manage, rent and sell real estate

Medford Realty Group Inc.

Stephanie C. Moisakis, president, treasurer and secretary

1 Wilson Farm Rd., Westford MA 01886

Real estate brokerage

POAH Madison Associates LLC

Laura Vennard, managing director and CFO, Preservation of Affordable Housing Inc.

POAH @ 40 Court St., Ste. 700, Boston MA 02119

Deal with interests in real property, including projects in Boston MA

95 Spiers Road LLC

Antonio Ferrara and Rizziero Petruziello, managers

185 Wolcott Sq., Hyde Park MA 02136

Acquire and develop real estate

KAL Capital Management Inc.

Keith A. Laubenstein, president, treasurer and secretary

27 Wagon Rd., Walpole MA 02081

Invest in and manage real estate

Tassar LLC

Amy E. Lindqvist and Jan P. Lindqvist, managers

290 Barker St., North Andover MA 01845

Real estate activities

Marshview Realty LLC

William H. Edwards, manager

25 Rolfes Ln., Newbury MA 01951

Manage and own real estate

71 Elm Street LLC

Gabriel Tutunjian, manager

330 C St., South Boston MA 02127

Acq., develop, finance, lease, manage & sell RE

35 Hundreds Road LLC

Steven J. Silverman and Erin F. Sweeney, managers; Richard M. Golder, signatory

1560 Commonwealth Ave., Allston MA 02134

Real estate of every kind

35 Hundreds Road LLC

Brian R. Bassett and Andrew M. Hershey, managers

987 Lorimer St., Brooklyn NY 11222

Real estate investment

62 North Street LLC

David E. Murray, manager; Robert W. Anctil, resident agent

Principal office @ 2 Bridgeview Cir., Tyngsborough MA; Robert W. Anctil Real estate and interests therein c/o Perkins & Anctil PC @ 6 Lyberty Way, Ste. 201, Westford MA 01886

172 Princeton Street LLC

David E. Murray, manager; Robert W. Anctil, resident agent

Principal office @ 2 Bridgeview Cir., Tyngsborough MA; Robert W. Anctil Real estate and interests therein c/o Perkins & Anctil PC @ 6 Lyberty Way, Ste. 201, Westford MA 01886

The DPB LLC

Elizabeth Nichols Paine Bell, manager

40 Claypit Hill Rd., Wayland MA 01778

Acq., develop, lease, manage and mortgage RE

continued on page 18

THE REAL REPORTER

June 7, 2013

Massachusetts Corporations Organized May 27 - May 31, 2013 Corporation Sharp Development LLC RG Florida Real Estate LLC Cape Cod Wave LLC CWC Design Inc. MNR Realty LLC SBMS LLC JJP Holdings LLC

Directors/Registered Agents Jacqueline A. Sharp, manager; Theodore J. Sharp, signatory Ronald G. Greenwood, manager Laura M. Reckford, manager Christopher Crump, president, treasurer and secretary Gregory P. Mazur, manager Eric O'Brien, manager Joseph Cuzzupoli, manager; Gerald J. Billow, signatory

CC&C of Leominster LLC JB Properties Unlimited LLC Welch-Beacon Realty LLC Molin Realty LLC

J. Thomas Jones and Kevin J. Jones, managers Jane M. Berry and Joseph P. Berry, managers Paul Casale, Michael Welch and Richard Welch, managers Joshua Molin, manager

The NE Collaborative Design Group LLC

Therese Carrier and Kerry Shedd, managers

Address 7 Cranberry Ln., Hingham MA 02043 14 Crosby Ln., Chelmsford MA 01824 235 Lakeview Ave., Falmouth MA 02540 27 Willow St., Haverhill MA 01832 10 Jamie Ln., Hopkinton MA 01748 5 Mount Royal Ave., Marlborough MA 01752 10 Old Colony Rd., Weston MA 02493

Nature of Business Real estate investment RE leasing, management and ownership Dealing with interests in real estate Architecture All aspects of real estate business Dealing with interests in real estate Invest in, operate & own healthcare facilities, incl. long-term care & nursing home properties 35 Macy St., Raynham MA 02767 Commercial real estate leasing activities 11 Silva St., Milford MA 01757 Property management C/o Welch Healthcare and Retirement Group @ 52 Accord Park Dr., Norwell MA Real estate Principal office @ 83 Chase Rd., South Hampton NH 03827; Dealing with interests in real estate MA office @ 112 Parker St., Newburyport MA 01950 25 Hackett Hill Rd., Manchester NH 03102 Interior design

Sea Mountain Ventures II LLC Robert F. Buckfelder and William G. Seymour, managers Reservoir Road Solar Project Company LLC J. Adam Filson, signatory 112 Sycamore Street LLC Mei Xue, manager LGW Holdings LLC Lauren McCarron and William E. McCarron, managers 284 North Street LLC Patrick Corrigan, manager 18 Woburn Street LLC Boris Bacanurschi, manager 157 Main Street Realty LLC Stephen P. Hansen, manager MBA Hospitality Inc. Bharatkuman Patel, pres.; Minaxiben Patel, treas.and sec. 2 Benjamin Rd LLC Anthony C. Busa and Mary Elizabeth Busa, managers Glacier Point LLC David S. Carson and Judy L. Carson, managers The Cambridge Institute Dormitory 100 LLC Xin Wei Lin and May Zhou, signatories Petersen Capital Management LLC Stephen Petersen, manager Monument House LLC Richard J. Sheehan Jr., manager Benters LLC Suzanne Conrad, Jason Dewhurst, Sarah Dewhurst and Robert Redmond, signatories 48 Laurel Road LLC Clifford Ciccarone and Katerina Ciccarone, managers Greenwich Mainsail LLC James F. Keliher, manager Horizon Real Estate Redevelopment LLC Mary Ellen Costa and Richard M. Costa, managers

1100 E. Morehead St., Charlotte NC 28204 37 Corey Rd., Hancock MA 01237 117 Wallace St., Newton MA 02461 210 Lockes Village Rd., Wendell MA 01379 25 Haven St., Dover MA 02030 18 Woburn St., Medford MA 02155 157 Main St., Medway MA 02053 150 West Housatonic St., Pittsfield MA 01201 18 Philip Rd., Lexington MA 02421 69 Hammond Rd., Belmont MA 02478 1025 Main St., 3rd floor, Waltham MA 02451 211 Westerly Rd., Weston MA 02493 70 Bailey Rd., Haverhill MA 01830 15 North St., Newton Centre MA 02459

Acquire, develop and manage real estate Develop renewable energy projects Invest in real estate Acquire real estate and related activities Acquire and develop real estate Real estate Lease and maintain real property Develop and manage hospitality properties Buy, develop, improve, lease & sell real property Manage and own real estate Invest in and manage real estate Financial svcs, incl. mtg. and portfolio mgmt. Operate and own real property Commercial real estate activities

2192 Commonwealth Ave., #394, Brighton MA 02135 251 Newbury St., Boston MA 02116 58 Daniel Dr., Abington MA 02351

Dealing with interests in real estate Develop, lease, manage and own real estate Buy, lease, operate and own real estate

40 Michael Way LLC M&S Mortgage Field Inspections LLC 516 Forest Street LLC Tremview Holdings LLC 9 Sheafe Street LLC Butterbrook Farm LLC

9 Chester St., Andover MA 01810 212 Pakachoag St., Auburn MA 01501 60 William St., Ste. 230, Wellesley MA 02481 C/o Odin Management LLC @ 1284 Beacon St., Ste. 1210, Brookline MA 72 Hancock St., Lexington MA 02420 Principal office @ 89 Concord Rd., Acton MA 01720; Gianpiero Spino Esq. @ 599 North Ave., Ste. 7, Wakefield MA 01880 10 Samoset Rd., Winchester MA 01890

Buy, rent and sell real estate Mortgage field services, including inspections Maintain, purchase and sell real property Buy, develop, finance, lease and sell RE Engage in every aspect of the RE business Develop and own real estate

27 Grant Street LLC

Daniel Berberian, manager Mike Bourdeau, manager; Sundia Bourdeau, signatory Demos Kouvaris, manager J. Daniel Bowen, signatory Margot Seligman, manager Anthony J. Pittorino and Felix J. Pittorino, managers; Gianpiero Spino Esq., resident agent Martin Hill, manager; Lauren Harder, signatory

22 Lowell Street LLC

Martin Hill, manager; Lauren Harder, signatory

10 Samoset Rd., Winchester MA 01890

Coyle Avenue Realty LLC Powerhaus of Boston LLC

Peter Bredemeier and Deborah S. Kokinos, managers Mary E. Power, manager; Michael Curtin, resident agent

9 Edward Road LLC Ivy Circle LLC

Bruce A. MacDonald, manager Janice Chongjie Ye, mgr.; Madhavi Makarand Kulkarni and Makarand Ramkrishna Kulkarni, signatories Michael Goldberg, manager

3 Brantwood Rd., Arlington MA 02476 Principal office @ 3211 W. Sierra Dr., Thousand Oaks CA 91362; Michael Curtin @ 154 Cedar Ln., Westwood MA 02090 374 Hammond St., Newton MA 02467 17 Sunset St., Boston MA 02120

Norfolk Holding LLC Legal Real Estate and Consulting LLC Orchard Hill North LLC ECE Realty LLC

Mario Martinello and Susan F. Martinello, managers; Paul C. Dick, resident agent Roland E. Hoch and Rudolf J. Laager, managers; Andrew Branz, resident agent Marc A. Foner and Susan W. Foner, managers

Develop, improve, lease, manage and own real property Develop, improve, lease, manage and own real property Lease, manage, own and sell real estate Manage and own real estate

Buy, develop, lease, manage and sell RE Real estate investment, property management and research 5600 A Broadway, Bronx NY 10463 Develop, improve, lease, manage, own and sell real property Principal office @ 3651 Prestwick Cir., Gulf Shores AL 36542; Buy, manage and sell commercial and Paul C. Dick @ 60 The Great Rd., Bedford MA 01730 residential real estate Principal office @ 214 Monument St., Concord MA 01742; Andrew Branz Develop, invest in and manage real estate @ 800 South St., Ste. 300, Waltham MA 02453 167 Union Ave., Framingham MA 01702 Buy, develop, lease, operate and own RE

continued on page 19

THE REAL REPORTER

June 7, 2013

Massachusetts Corporations Organized May 27 - May 31, 2013 Corporation

Directors/Registered Agents

Address

Nature of Business

Park Slope Holdings LLC

Joseph Catalano, manager; Carl A. Rizzo, resident agent

Principal office @ 191 16th St., Brooklyn NY 11215; Carl A. Rizzo @ 22 farwood Dr., Bradford MA 01835; Carl A. Rizzo @

Business of real estate

100 Pleasant ST LLC

Ron Ifrah, manager

345 Pond St., Westwood MA 02090

Develop, invest in, lease, operate and sell RE

34 Edison LLC

Daniel Rubin, manager

34 Edison Green, Dorchester MA 02125

Buy, improve, rent and sell real estate

TMA Realty Inc.

Joseph Saade, president, treasurer and secretary

7 Tait Ave., North Easton MA 02356

Develop and manage real estate

CLGI LLC

Joanne Rome, manager

5 Campbell St., Woburn MA 01801

Real estate and interests therein

LC Investment Properties LLC

Richard R. Chartier, manager

9 High Meadow Rd., Little Compton RI 02837

Buy, develop, hold, rent and sell real estate

JAB Real Estate Management LLC

Olivia Sillari, manager; Timothy A. Gagnon Esq., resident agent Principal office @ 351 Pope Rd., Concord MA 01742; Timothy A. Gagnon Esq. @ 188 Mayfair Dr., Westwood MA 02090

Invest in and manage real estate

Grand Coast Capital Fund I LLC

Jeffrey Carter and Paul Esajian, managers

75 Arlington St., Floor 5, Boston MA 02116

Investments, including real property interests

1228 Sherbrooke LLC

William W. Abendroth, manager

40 Grove St., Ste. 375, Wellesley MA 02482

Acquire, maintain, rent and sell real estate

DGG Holdings LLC

Robert Dabrieo, Brian Gately and George Gately III, managers 1 Summit St., Woburn MA 01801

Dealing with interests in real estate

Wilder Brook Development LLC

Mark Dymek, manager

Residential construction and sales

217 Conant St., Gardner MA 01440

146-148 George Street LLC

Adam Ioakim and George Ioakim, managers

190 Mystic Ave., Medford MA 02155

Real estate management

1576 Commonwealth Avenue #11 LLC

Bruce Balder, manager

150 Old Page St., Stoughton MA 02972

Manage real estate

141 Englewood Avenue LLC

Bruce Balder, manager

150 Old Page St., Stoughton MA 02972

Manage real estate

522 Page Blvd, LLC

William Tetreault, manager

522 Page Blvd., Springfield MA 01104

Real estate

Harmony 109 LLC

Deborah Neubauer, manager

46 Hop Brook Rd., Amherst MA 01002

Hold real estate

113-115 High Street LLC

Enrico S. Corsetti, manager

141 Webster St., Newton MA 02465

Manage and purchase real estate

NFC Mortgage Company LLC

Daniel J. Briand, Nicholas M. Christ, Carl W. Taber and James F. Wallace, managers

330 Swansea Mall Dr., Swansea MA 02777

Residential mortgage lending

Quiet Communities Inc.

James Banks, president; Charles Mrotta, MD, treasurer; Cathy Harris, secretary

154 Lincoln Rd., Lincoln MA 01773

Non-profit promoting quiet and healthy landscape and home maintenance practices that respect public health and quality of life

Mill & Foster LLC

Edward O. Sanchez and Gail F. Sanchez, managers; Lawrence D. Hunt Esq., resident agent

Principal office @ 48 North St., New Bedford MA 02740; Lawrence D. Hunt Esq. @ 128 Union St., Ste. 500, New Bedford MA

Manage and own real estate

98 Glen Street LLC

Mark Regis, manager; Robert Dionisi Jr. Esq., resident agent Principal office @ 1 Bush Rd., Hudson MA 01749; Acquire, hold, lease, mortgage and sell RE Robert F. Dionisi Jr. Esq. @ 365 Boston Post Rd., Ste. 214, Sudbury MA

Commercial Deals continued from page 9

MTG: $4,707,500 from Easthampton SB ADD: 866 North Rd., Westfield BWR: Russian Evangelical-Baptist Church of Springfield BUYER: Acton Townhouses LLC, managed by Stuart Levey, c/o Universal Management LLC SELLER: Nashoba Apartments LP, mgd. by Ronald Brown, president and Harold Brown, treasurer PRICE/ADD: $4,300,000; 284 Great Rd., Acton MTG: $3,440,000 from CBRE Multifamily Capital Inc. NOTES: Multifamily property; sellers’ ownership in property dates to June 1987 MTG: $4,250,000 from Eastern Bank ADD: 527-529 Beacon St., Boston BWR: James T. Garnache, trustee of 527-529 Beacon Street Realty TR, c/o the Mount Vernon Co. MTG: $3,780,000 from Eastern Bank ADD: 2-16 Hyde Park, Boston BWR: 2-16 Hyde Park Avenue LP, managed by Leonard J. Samia

MTG: $2,500,000 from Digital Federal CU ADD: 95-115 Eastern Ave. and 600-610 Providence Hwy., Dedham BWR: Dedham Marketplace LLC, managed by Stephen P. Steinberg MTG: $2,000,000 from Winchester Cooperative Bank ADD: 353 Cambridge St., Winchester BWR: Curtis Bonnell, Ralph Bonnell III and Steven Bonnell, trustees of R&B – 353 Realty TR BUYER: Hang Ten Inc., mgd. by Mark J. Powers, president, and Michael J. McNamara, treasurer SELLER: William L. Hirst PRICE/ADD: $1,800,000; 28 West Rd., Orleans MTG: $905,000 from Bank of Cape Cod NOTES: Restaurant property, constructed 1984; building size is 9,225 sf, lot size is 3.5 acres; property last sold for $250,000 in Aug. 1982 MTG: $1,400,000 from Cape Cod Cooperative Bank ADD: 192 and 196 Pleasant St., Yarmouth BWR: Jessie’s Lane LLC, mgd. by Paul K. Butler MTG: $1,185,000 from Enterprise B&T Co. ADD: 205 Main St., North Reading BWR: Tonelli Realty LLC, managed by J. Steven Tonelli and Mark G. Webster

BUYER: CC&C of Leominster LLC, managed by J. Thomas Jones and Kevin J. Jones SELLER: D.H. Adams Co. Inc., managed by John J. McManus, president and treasurer PRICE/ADD: $1,020,000; 720 Mechanic St., Leominster NOTES: Sgl.-story warehouse, constructed 1960; building size is 37,375 sf, lot size is 2.3 acres; last sold for $843,886 in July 2003

M AY 2 8 T H MTG: $14,900,000 from Brookline Bank ADD: 72 River Park St., Needham; and 70, 100, 150, 160 and 189 Wells Ave., Newton BWR: WRP Realty Inc., mgd. by Wingate Cos. BUYER: J. Russ Corp., mgd. by Joseph Russell, pres. SELLER: Scott M. Saltus PRICE/ADD: $1,575,000; Brandt Lane and 24 Jolma Rd., Worcester MTG: $1,725,000 from Avidia Bank NOTES: Land parcels; lots total 4.2 acres; *mortgage also covers 47 Rockland Rd., Auburn and 47 Southwest Cutoff, Worcester MTG: $1,350,000 from Florence Savings Bank ADD: 7 Upper Church St., West Springfield BWR: Castle Pines LLC, mgd. by Brian Fitzgerald

THE REAL REPORTER

June 7, 2013

The Real Report continued from page 1

right from the Spaulding Turnpike with a new bridge and ramp (tailored) to have your building be the first one people see when they come here,” Power told the gathering on-site where a parking lot has already been dug up for the three-story, 67,000-sf structure that is slated for completion in February. For Power and partner Roger “Sam” Altreuter, the scenario was too good to pass up for a building that had always been on the drawing boards after buying the existing 100 Arboretum Dr. 12 years ago in the Bostonbased firm’s inaugural Granite State purchase. A vicious recession did not help move the plan along, but Power explained the vision remained intact, and improving conditions Linda S. Roth coupled with concerns there might not be enough space to accommodate existing tenant Long-Term Care Partners had Farley|White primed to launch the rare speculative plan on its own. The Tradeport’s offer ultimately put the final piece in motion, says Power, while Cushman & Wakefield Director Denis Dancoes says the agreement promises to deliver “a special” project to the Seacoast. “It’s pretty impressive,” Dancoes told the Real Reporter while waiting for the groundbreaking to commence. “It’s a beautiful building that will have some of the best space you can find around here . . . I think it will get a lot of interest.” If fact, Power later conveyed, a number of prospects are already circulating even with the ceremony having just concluded. For Farley|White, however, the key is to give loyal LTC first shot at any space it needs, Power stressed, reciting the landlord’s enduring gratitude for such a congenial— and ever expanding—building companion. LTC is so cooperative, Power says, CFO Linda S. Roth had conveyed to him when site work recently began that “our employees really love the blasting,” assuaging his fears of a less amenable response. “It’s New Hampshire,” he said, laughing with attendees over the enduring attitude. Most of Farley|White’s portfolio of 3 million sf is in Massachusetts, but Phase II will bring its New Hampshire portion above

100 Arboretum Dr., Phase II, Newington, NH (RENDERING)

800,000 sf. with product concentrated in the Seacoast and Greater Manchester submarkets. Power says the expansion is intentional, partly reflecting an outlook that rising urban rents will force companies to consider secondary venues. “It’s already happening,” says Power, citing new firms from Massachusetts in several southern New Hampshire buildings held by the firm and other Massachusetts landlords who have traipsed across the bor-

der, among them the fellow Seacoast developer Cathartes Co., Equity Industrial Partners and John Flatley, who is making a major push into Nashua. Power also praises New Hampshire officials for a will-do approach. “They not only say they will build you a new bridge, they go out and do it,” he says, pointing to the public works project well underway a few n yards away from 100 Arboretum Dr.

Cresa, RBJ Deal

northern suburbs. Offices such as one at Station Landing in Medford will be moved to the fourth and fifth floors of Commerce Place, although details of when that will commence or how long the lease extends were not divulged. Financial terms were also not provided, although RBJ puts the average asking rent for the inner suburban north sector at $26.98 per sf through Q1, representing a 0.5 percent gain over the past 12 months. Whatever the incentives, Commerce Place Ron Friedman has managed to fill a large block of fallow space recently, having just singed Cablelive to a 4,150 sf deal and East Boston Savings Bank for 12,225 sf. RBJ cites amenities such as a café and fitness center for Eric Smith helping stir interest in the building, as well as the strong sponsorship of Preotle, Lane, a New York-based firm that has owned Commerce Place since n paying $7.0 million in Dec. 1995.

continued from page 3

advised the tenant, while Ron Friedman, Steven Purpura and Eric Smith of Richards Barry Joyce & Partners represented Preotle, Lane as the property’s exclusive listing agents. “Commerce Place is perfect for Cambridge Health Alliance, given that it is situated right in Dan Sullivan the middle of the coverage area,” details Smith. “The building’s large floor plates provide CHA the space needed to relocate their employees from other locations and the current shell condition of the floors offers the flexibility to strategically design their layout. Finally, CHA found the many recent and planned improvements to Malden Square quite impressive.” CHA is an award-winSteve Purpura ning organization that serves Cambridge, Malden, Somerville and other communities in metropolitan Boston’s

June 7, 2013

THE REAL REPORTER

Crown Colony Dr. continued from page 1

Group, which reportedly drew â&#x20AC;&#x153;tonsâ&#x20AC;? of interest for the 132,000-sf building that is fully occupied by Arbella Insurance. Some calculations put the capitalization rate on the sale in the mid-6-percent sphere. The acquisition apparently is being consummated on an all-cash basis. â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a great price,â&#x20AC;? opines one investment professional who credits the turnout for 1100 Crown Colony Dr. by eager investors to its net-lease nature that has Arbellaâ&#x20AC;&#x2122;s agreement extending another 14 years. â&#x20AC;&#x153;They take very good care of the building,â&#x20AC;? the source says of both landlord and tenant, while buying into one of suburban Bostonâ&#x20AC;&#x2122;s top office parks also apparently was of comfort to Coleman Benedict capital that had been shying away from the South Shore in the wake of a tumultuous 2008 recession. Slowly, however, the attitude has shifted to a sunnier outlook, according to market brokers, especially Benjamin Sayles for best-in-class product. North Quincy has benefitted from a string of such investments this decade, and as the Real Reporter relayed recently, Campanelli is taking on the empty Heritage Office Park, paying an estimated $17 million for the pair of Class A buildings that total 356,000 sf. By comparison, those empty structures are fetching less than $47

70 Wells Ave. continued from page 2

among lenders to participate in the opportunity with the multi-faceted organization whose roots date back 45 years. â&#x20AC;&#x153;Wingate has done a superior job in keeping the properties well leased throughout their ownership of the portfolio,â&#x20AC;? says LaBine. Their high tenant retention rate coupled with the portfolioâ&#x20AC;&#x2122;s excellent location made this an attractive lending operation for Brookline Bank.â&#x20AC;? Wingate manages and owns more than 13,000 apartment homes in 14 states and has processed $1 billion of product during its existence. n

Crown Colony Office Park, Quincy MA

per sf versus the $195 per sf being shelled out for 1100 Crown Colony Dr. Dating to 1988, the five-story building did see a dip when Digital Realty scooped it up for $19.2 million in July 2010 after having sold for $25.0 million 15 years ago this month. Other hopeful signs are also on the horizon at Crown Colony, including a proposal to build high-end apartments on a site in the 143-acre mixed-use complex that is situated close to the juncture of Route 3 and Interstate 93. The multifamily idea is being advanced via the Flatley Co., among New Englandâ&#x20AC;&#x2122;s most active investors. The 1100 Crown Colony Dr. conclusion makes for a triumvirate of notable 2013 CRE assignments completed by HFF along Route 128 over the past two months, with the most recent involving Co-Managing Director Coleman Benedict, Director Benjamin Sayles and Senior Analyst Mark

Campbell. The centerpiece was helping Equity Office divest Riverside Center in Route 128 Central for a mind-numbing $197 millionâ&#x20AC;&#x201D;a suburban Boston record $386 per sfâ&#x20AC;&#x201D;when bought by Hines Global REIT in early April. Sandwiched between those two was the $12.1 million exchange of a three-story Boston Sports Club on Commerce Way in Woburn. That $12.1 million trade was between seller National Development and Realty Income Corp. involving a five-year old building totaling 33,900 sf in the Metro North Corporate Center along Interstate 93. Carey REIT II Inc. is a newly formed real estate investment trust following last yearâ&#x20AC;&#x2122;s merger of W.P. Carey and a competitor. The firm is now marking its 40th anniversary, during which time it has developed expertise in build-to-suit and n sale/leaseback financing structures.

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THE REAL REPORTER

June 7, 2013

CBA Eyes Cambridge continued from page 4

new millennium, with 500,000 sf build-tosuit product. “So in the last 12 years we’ve had 300,000 sf of uncommitted office space delivered in the hottest tech market in the country – about 25,000 sf per year” outlined Winters. By contrast, there has been about 4.5 million sf of lab space built in the last 12 years. As a result of the lack of construction and expansion of tech giants like Amazon, Google and Microsoft, there has been a pronounced spike in rents, with Class A rents up 10 to -20 percent in Kendall Square and Class B rents up 35 to 40 percent over the last 12 months, according to Winters. But there are other implications beyond rent increases, including a shift in tenant behavior when seeking alternatives to Kendall. “We’re seeing tenants thinking differently these days and looking at submarkets that would be atypical 5 to 10 years ago (Boston’s ) Back Bay, Downtown and North Station,” said Winters. Another trend seen emerging from the lack John Osten of space is that office users are looking at older existing lab space that the landlord is willing to convert to office. “Office rents have gotten to the point now where there’s a crossover where the economics are pretty Mark J. Winters similar in terms of landlord return on doing an office rent in Kendall Square versus a lab deal.” Lucas gave a brief overview on the state of the booming lab market, one that has grown from about 500,000 sf in a few handfuls of properties during the 1980s to an estimated 85 buildings today housing 10 million sf. Inventory will soon jump some 20 percent when six build to suits under various stages of construction are delivered to the market, space for which all but 125,000 sf is already fully committed, making the supply limited as a relief valve at a time of heightened demand. “The Life Sciences end of the market is a huge driver in the commercial real estate arena,” said Lucas, but he added there are a

Kendall Square, Cambridge MA

couple of factors that may slow the growth – a shift in the venture capital funding placement and government sequestration. “Everything is not rosy and I think there are a couple of storm clouds out there,” he cautioned the packed audience. “The market in Cambridge is only as healthy as the startup community it is in, and there is a lack of early stage VC funding, so the companies that are the drivers of the success of the Cambridge market are not being produced as they were in the past . . . and with sequestration, the National Institute of Health funding (may be cut), and for many of these (companies) in Cambridge, that has been their lifeblood.” JLL’s Osten also expressed concern that the tech giants are blocking out traditional startup tenants that Cambridge once spun out regularly. “When a Microsoft or Google comes to town, and pricing (for rents) is in the mid-$60’s per sf, they view it as an incremental cost of doing business.” The veteran broker further noted that the big players are in other markets like Berlin, Hong Kong, London and Singapore – and that Hong Kong rents are at $225 per sf. “So $60 in Cambridge is a relative bargain, especially with all the positives the market has to offer.” With so many life science tenants and their corresponding office needs desperately seeking to be as close to MIT and Harvard as possible, where are smallerand mid-size tenants going to seek alternative space? “The path to growth for

Cambridge for the most part is towards Northpoint,” said Osten of an emerging district near North Station. The panel appeared mostly in agreement, despite reservations that some might have with the Green Line public transportation versus what the Red Line has to offer (Davis, Kendall and Harvard Squares plus Downtown Boston) for the millennial workforce. Other inner suburban alternatives include Allston and Brighton (which Harvard is investing in significantly along with the 1.5 million sf of mixed-use property that New Balance is developing) and Assembly Row in Somerville. “Federal Realty (developer of Assembly Row) does a great job of city-building, and I think it’s going to surprise some people,” said Winters. “They’re going to land a couple of tenants to kick off that project.” After the panel discussion, Boyle told the Real Reporter that the series, dubbed “The Real Deal” will continue in September with a presentation on the suburbs that will again feature veteran brokers in an unscripted format. “We just want to do something that provides an insider’s look, a broker’s view of what’s happening to (feature) the knowledge and experience that we have in the Commercial Broker’s Association,” said Boyle, future observing that the intent is “to get down into it and talk about what particular tenants are doing, what the real concessions are and n what’s happening in the future.”

June 7, 2013

THE REAL REPORTER

Weathering Storm Harbor Association. Li’s organization prepared a report in conjunction with ScholarWorks of UMass Boston appropriately entitled “Preparing for the Rising Tide”. Li led off the meeting citing findings from the report that paint a best-case scenario on sea-level rise, but the conclusions are still dire, with a minimum of 2.5 feet of rise by the end of the century anticipated (with a possibility of a six foot rise). She also reminded the audience that “we were very lucky in the Boston area, unlike New York and New Jersey.” If Sandy had hit Boston 5.5 hours earlier when it was high tide, said Li, at least 6.5 to 7 percent of the total land mass would have been affected, and would have included the six waterfront neighborhoods of Boston, including the Harbor Islands. The damage would have been equivalent to that of a 100 year flood. Alfred B. Scaramelli, Senior VP at Beacon Capital Partners, LLC then showed what David Begelfer appeared to be still shots from a disaster movie, primarily involving his firm’s 36-story, 1.1-million-sf office tower located on the East River in Manhattan. The building was knocked offline for 42 days post-Sandy, took Alfred B. Scaramelli on 11 million gallons of water (45 feet deep in its underground parking garage), suffered 80 percent water intrusion, lost half of its electrical switch gear, and saw 30,000 sf of retail completely wiped out. After the program, Scaramelli reiterated Li’s point for The Real Reporter. “If the storm had hit Boston eight hours later (the next high tide cycle), I don’t think anyone would have been prepared, and I don’t think anyone (in Boston) knows that.” Scaramelli then detailed the painful and expensive restoration process undertaken by Beacon and laid out a “Lessons Learned” presentation that included the importance of extensive owner engagement (no third party property manager); a pre-existing agreement with a recovery company; making sure that your MEP engineering firm has a thorough understanding of the build-

Photo: Derek Szabo

continued from page 1

ing; and to keep hard copies of the plans at the building and in the engineering office, as electronic communications are often a first casualty of disasters. John Brandstetter, Managing Director of The Brandstetter Group, then delivered a segment on “Developing an Emergency Restoration and Recovery Plan,” which used the tagline: Risk is Mitigated, Chaos is Managed. Brandstetter began by showing photos of a building (200 West St.) with an extensive sandbag system in place before Sandy hit and asked the audience, “Would you have spent $1 million on this plan? If you did, you would have had your building back online in four days.” Brandsetter then laid out a comprehensive recovery plan in short order covering everything from tenants and insurance (“your insurance is not your entire risk mitigation plan”) to security, communications systems and vendors. Katharine Bachman, Senior Partner at WilmerHale, handled the legal aspects of disasters, advising the gathering, “When the storm hits, look to the lease.” Landlord and tenant responsibilities for insurance, repairs, service interruptions, and casualty are specifically addressed in most commercial leases, she explained. And tenants may find rent abatement and termination remedies if utilities are compromised for extended periods of time or if the premises are rendered unusable for an extended period of time. For those that still believe that climate change is some sort of a hoax, Michael Balmer, VP at insurer Willis North America laid out the impact that atmospheric changes have had on the planet over the last few decades. Five of the 16

most expensive catastrophes in world history have occurred in the last three years and 10 of the top dozen costliest hurricanes have occurred in the last nine years. Balmer also cautions that insurers are not as likely to pay dollar for dollar on claims anymore. “The days of your insurance company covering every penny are over, and policy terms and conditions are getting narrower and narrower.” Balmer advised property owners to invest in cost control and emergency planning and into fully understanding one’s insurance coverage to diminish unpleasant surprises. Peter See, Senior VP of Property Management for Boston Properties, closed out the session with a “Preparing Buildings for Tomorrow” segment, outlining the homegrown REIT’s disaster preparedness plans—in particular its vulnerable Atlantic Wharf asset on Boston Harbor. “A storm that hits at high tide during a full moon is what we’re going to prepare for,” relayed See, in reference to the worst case scenario of a catastrophic storm. BP is in the process of assessing the risk for its entire portfolio, implementing many of the lessons learned set forth by the previous panelists. At the conclusion of the program, NAIOP CEO David Begelfer told the Real Reporter, “The value of today was that we had experts who have personal experience with their own properties as well as consultants who have been dealing with them, and giving some tremendous insights to property owners who haven’t had the opportunity to experience themselves firsthand. It was very different from n an academic presentation.”

THE REAL REPORTER

June 7, 2013

CT Sale continued from page 3

Heald and Bruce Lusa of the Boston office joined Jeff Dunne and David Gavin of CBRE’s New York Institutional Group and John McCormick, Pat Mulready and Mike Stone of the Hartford office as agents for the seller who also procured the buyer. Blue Back Square was 97 percent occupied at the time of its exchange. “We are very pleased to have facilitated this transaction on behalf of Nathaniel Heald Ronus Properties,” Angelone says in a press release announcing the blockbuster agreement, among the largest of its type in the region this year. “Starwood Capital jumped on a great opportunity to acquire Bruce Lusa an institutional-quality asset that is both diversified and possesses an intrinsic competitive advantage— which together ensure the long-term success of the project,” offered Angelone in

Channel Center continued from page 1

Channel Center complex to Beacon Capital Partners. That is the same local firm that traded the property to Commonwealth founder Richard Galvin in 2007, with that deal sparking a series of overhauls and upgrades culminating in the landmark build-to-suit pact last summer that will have State Street Bank Corp. relocate its headquarters to a modern 11story, 500,000-sf mid-rise next year. “It is happening for sure,” one source responded when asked whether a deal is in the works to have BCP take on at least a portion of the multi-faceted complex forged out of a series of once-decrepit factory buildings left over from Fort Point Channel’s waterfront heydays serving the working port. BCP declined comment on the matter, but the firm has filed records indicating an interest in 7-9 and 10-20 Channel Center. Supposedly, AREA is remaining an investor

Blue Back Square, West Hartford CT

assessing the positives which resulted in the impressive pricing outcome for Ronus. Completed in 2008, Blue Back Square offers quality construction, efficiency in large retail footprints and office layouts, and a first class contemporary design “that does not exist elsewhere in the marketplace,” relays Angelone, a retail expert. Each of the six buildings offers upscale restaurant and retail units total-

ing 210,550 sf, with the floors above an eclectic blend of 48 apartments, 59 residential condominiums, plus medical office and professional space. The property is also shadow-anchored by a Whole Foods Supermarket and several municipal buildings, among them West Hartford’s library, police station and town hall. There is also structured parking for n 1,000 vehicles.

on the State Street property, which has virtually no risk thanks to a 15-year lease with the financial services giant. Sources put the pricing in the $270-per-sf range, or about $95 million. An exact figure could not be obtained by deadline, but one market expert terms the deal “huge” for the deal size and the players involved in the negotiations. Also unusual is that Commonwealth is apparently shopping AREA’s piece at its behest, and not turning to a local brokerage house such as Colliers, Cushman & Wakefield, Eastdil Secured or JLL. CBRE/New England is exclusive leasing agent for two major Commonwealth properties including Channel Center, and has a formidable Capital Markets Group. Privacy may have been a consideration, one observer surmised, but whatever the reason, Commonwealth has been rather stealth on the process that at one point reportedly was concentrated on Shorenstein, a California-based investor with a long history in Massachusetts, most

recently paying $115 million for Seaport Center, a large office building in the same submarket as Channel Center. Multiple sources insisted Shorenstein was an early option before BCP stepped up with an acceptable offer, but that could not be confirmed officially. As to Beacon, the reason for diving back in after making a handsome return the first time is simple, according to one expert. “The Seaport is super-hot right now, and they know rents are going to be rising big time,” says the source who maintains Channel Center was favored thanks to Commonwealth’s successful stewardship. “It’s really nice space—he did a great job there, no doubt,” the professional says of Galvin, who has done a similar turnaround of the former New England Telephone headquarters in Boston’s Financial District. Under the deal with Beacon, Commonwealth will remain as a minority partner, with Beacon controlling the vast share of the venture, sources convey, liken ly above 90 percent.

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