BOSTON-New Boston Fund Inc., a locally based real estate investment, development and management firm, will develop a 176,000-sf building at One Brigham Ci. on Huntington Avenue. Partners HealthCare Systems Inc. has agreed to lease the entire office space in the building for 15 years.
BOSTON-OutStart relocates its corporate headquarters from Natick to the city's leather district at One Lincoln Plaza. The company, which recently opened offices in London and in Ireland, says it wants a more convenient location for its "expanding global client base.
BOSTON-Having encountered difficulties finding tenants to fill the 350,000-sf building, Modern Continental Enterprises puts 470 Atlantic Avenue up for sale. The building, on the waterfront, is currently 25% leased and the company is asking for over $100 million.
BOSTON-The Boston Housing Authority signs a Voluntary Compliance Agreement to make 700 affordable housing units available to disabled residents. The agreement comes in the wake of a review by the federal government's Housing and Urban Development.
SPRINGFIELD, MA- Affiliates of Merchant Equity Group and the Arnold Penner family of New York enter this city's office market with the purchase of the majority interest in 1 Financial Plaza.
BOSTON-A number of local institutions decide to design their new projects in environmentally friendly ways. Among those jumping on the "green" bandwagon are Massachusetts Institute of Technology, The Genetics Institute, TKT and even the newly constructed New England Patriots stadium in Foxborough.
NEWTON, MA-Hospitality Properties Trust, a locally based REIT, closes a new revolving credit facility for $350 million. The transaction includes an option to extend the credit and to increase the amount to $700 million.
NEWTON, MA-Five Star Quality Care, Inc., a locally based senior living facility operator, acquires five senior living communities for $45.5 million from an affiliate of ILM-II Senior Living Inc.
BOSTON-A plan to freeze the number of off-street parking spaces in South Boston has waterfront developers warning of dire consequences to future projects there. The freeze was approved a number of years ago in connection with the Big Dig, but was never implemented.
PEABODY, MA-East Boston Savings Bank relocates its corporate headquarters to a 36,000-sf two-story building it developed for $10 million in the North Shore. Representatives of the bank searched for a site in its former neighborhood but could not find an appropriate location.