Cushman & Wakefield Sonnenblick Goldman has arranged acquisition financing on behalf of Rubicon Investments, LLC, for the purchase of 198 and 200 Main St. Merrill Lynch provided the senior loan and RCG Longview provided mezzanine financing.
The State of Maine Department of Health and Human services fully occupies the four-story 200 Main St., which totals 50,823 s/f, until 2020. Tenants at 198 Main St. include Maine Cardiology Associates, DLL Associates, Bangor Savings Bank and WGME.
"This financing closed at a time when many CMBS deals were falling apart, and it was only through an incredibly cooperative effort that the financing was closed on time and as represented," said Dave Karson, director at Cushman &Wakefield Sonnenblick Goldman.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary