News: Front Section
Posted: April 17, 2020
Colliers International facilitates the sale
of and arranges financing for 17 Story St. in Harvard Sq.
Cambridge, MA According to Colliers International, its Capital Markets team facilitated the sale of and arranged financing for 17 Story St. in Harvard Sq. First Cambridge Capital purchased the .32-acre site from 17 Story, LLC for $16.1 million. Leading the sale process was Colliers executive vice president Christopher Sower who expressed his enthusiasm for the outcome of the project. “From the time we began working on this assignment, our team was always motivated by the opportunity to help write a new chapter for 17 Story – no pun intended. Like us, First Cambridge saw this same potential and we are excited to watch their vision unfold in the year ahead.”
Colliers Capital Markets debt and equity specialists, executive vice president Tom Welch and senior vice president Adam Coppola, helped the buyer arrange financing as a covered land play through lender, Radius Bank.
In addition to Sower, senior vice president Bruce Lusa and assistant vice presidents Jonathan Bryant and John Flaherty provided additional support to the seller.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
Columns and Thought Leadership
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid: