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NEWTON, MA-Senior Housing Properties Trust spends $61 million for 18 Alterra Healthcare Corp. properties in 10 states across the US and provides Alterra with a $6.9 million financing package. Alterra filed for bankruptcy protection in January.
DEDHAM, MA-The Massachusetts Bay Transportation Authority puts out a request for proposal for a developer to acquire and develop a 37-acre parcel that once served as a train yard on the Readville-Dedham line. The agency says that interest in the site is high.
TAUNTON, MA-New England Ice Cream Corp. acquires a 54,000-sf manufacturing/distribution facility for $3.4 million from Keller/Davis Co. New England Ice Cream currently has multiple locations and it will use the new building to consolidate its operations.
NORTHBOROUGH, MA-41 Lyman St. secures $3.3 million in financing. The single-tenant office building is leased by APX Central Inc., a subsidiary of Western Parcel Express Inc. It was the quality of the tenant that encouraged a local bank to go through with the deal.
BOSTON-Edward A. Fish Associates and the Asian Community Development Corp. begins construction on the Metropolitan, a 251-unit project that is being developed through a public/private partnership on a 43,860 sf parcel in Chinatown.
BOSTON-The state legislature passes the omnibus housing bill, which includes a financing alternative for municipalities to fund capital improvements. After six years, NAIOP is thrilled that the local developmental tool finally made it through.
SOUTHBOROUGH, MA-The Archon Group sells 120 Turnpike Rd to TA Realty Associates for $11.7 million or $148 per sf. The building is fully leased with good credit tenants.
BOSTON-Liberty Place, a 419-unit apartment building proposed for 660 Washington St., receives an endorsement from the Chinatown Neighborhood Council. The group recommends that the city approve the project.
SHARON, MA-The local conservation commission sponsors a plan to seize a 347-acre parcel here, known as Rattlesnake Hill, by eminent domain. The town had attempted to purchase the site last year but the proposal was defeated at the polls.
MEDFORD, MA-The Massachusetts Highway Department gives $12 million to the Telecom City project, a 200-acre, $750 million development located here and in Malden and Everett to improve its road infrastructure. Despite the current economic climate, the project is forging ahead.