News: Front Section
Posted: September 4, 2020
Horvath & Tremblay’s Kelleher, Pentore and Benton handle $8.6 million sale of Arlington Commons
Framingham, MA Dennis Kelleher, John Pentore and Ryan Benton of Horvath & Tremblay have completed the sale of 56-units for $8.6 million. Arlington Commons consisted of two, twin 27-unit buildings and an adjacent two-family on separate tax parcels. The properties sold at a 5.6% cap rate.
Arlington Commons (77-79 and 93 Arlington St.) is situated in a good commuter location, outside of downtown and close to the Framingham Waverly Commuter Rail Stop. The twin, 27-unit apartment buildings, with off-street parking for over 50 cars, contain six studios, 21 one-beds and 27 two-bed apartments. The adjacent two-family, 93 Arlington, contains one two-bed unit and one three-bed unit on a 13,408 s/f lot. All units will need to be programmatically upgraded to bring the properties to their highest and best use.
The town, with over 70,000 residents, is home to the world headquarters of Staples, Bose Audio and TJX, to name a few, as well as Framingham State University.
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,
.png)
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.
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.
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.
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:
