News: Front Section
Posted: September 8, 2011
New England SIOR Chapter to hold joint event with NEWIRE September 21st
The New England Chapter of SIOR and NEWIRE are holding its third annual joint event at the Hotel Indigo/Bokx 109, 399 Grove St. on Wednesday, September 21st from 6;30 p.m. to 8:30 p.m. This cocktail event is again being sponsored by Normandy Real Estate and is being named the "End-of-Summer/Back to Work Event." The Hotel Indigo is located at the intersection of Grove St. and Rte. 128 and was formerly the Holiday Inn. The hotel was purchased by Normandy Real Estate and renovated to a contemporary look and young venue. One of the nation's leading real estate private equity firms, Normandy Real Estate Partners, owns and operates one of the largest diversified real estate portfolios in the Northeast/Mid-Atlantic region. Normandy was recently the seller of The John Hancock Tower, a 62-story glass skyscraper in Boston's Back Bay which was one of the first real estate trophies to run into trouble when the speculative property boom abruptly ended two years ago. With the market in free fall, Normandy Real Estate Partners and Five Mile Capital Partners bought the building at a foreclosure auction 18 months ago for $660.6 million, or about half the price in 2006. At 4 p.m. on Wednesday, Normandy and Five Mile officially sold the Hancock Tower to Boston Properties for $930 million. The firm is based in Morristown, N.J.
This event is for invited guests only. In the past over 60 members have attended this event on the outdoor patio of the Bokx and with introductions from both chapter presidents. The event has been a nice venue to collaborate with another real estate organization and to exchange discussions on industry trends. NEWIRE is the New England Women in Real Estate organization. NEWIRE's mission is bring together women professionally engaged in commercial real estate and related service industries. Both chapters look forward to a great social and networking evening.
The Chapters would like to thank Normandy Real Estate for sponsoring this event.
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