News: Front Section
Posted: October 2, 2015
Colliers International’s Cronin and Brawley facilitate $4 million sale of Marist Center on behalf of Marist Fathers of Boston
Marist House Retreat Center, 518 Pleasant Street - Framingham, MAFramingham, MA The Boston office of Colliers International advised Marist Fathers of Boston on its $4.05 million sale of Marist House Retreat Center at 518 Pleasant St., a two-building property with a total of 50,077 s/f of space on a 28.72 acre site. The buyer of the property, Brendon Properties, has plans to redevelop the property as a senior-housing townhome community. Robert Cronin, senior vice president and Kevin Brawley, associate, both of Colliers, orchestrated the deal.
Robert Cronin, Colliers International
Kevin Brawley, Colliers International
Brendon Properties is an experienced and reputable builder of age-restricted developments in the MetroWest region. The property is zoned for educational, institutional and single-family development with special permit provisions for assisted living and open-space cluster residential.
The property, largely undeveloped and situated between an established residential neighborhood and the Mass Turnpike near exit 12, includes a former 45,000 s/f, 70-bed seminarian residence along with a chapel, support space and administration offices.
Colliers International Group Inc. is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
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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.
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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:
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
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Make PR pop by highlighting unique angles - by Stanley Hurwitz
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