News: Front Section
Posted: March 13, 2014
The Brooks Company acquires 48-unit condominium community known as Falls at Arden Mills, Fitchburg
The Brooks Company has acquired a 48-unit fractured condominium community known as Falls at Arden Mills. Financial details were not disclosed.
The Falls at Arden Mills, constructed in 2007, is comprised of a three-story elevated residential building and a two-story clubhouse/office building situated on 7 acres of landscaped grounds along the Nashua River. A majority of the units are two-bedrooms. Amenities, in addition to garage parking, include a clubhouse/lounge area, fitness center and an indoor swimming pool.
Other Brooks Company development projects include The Atlantic at Marina Bay, Quincy; 295 Carpenter St., Providence, RI; The Fremont Lofts, Worcester; and 305 Dutton St., Lowell.
Jeffrey Brooks, president, said "We will reposition this underperforming asset, and deliver superior residential product at steeply discounted prices to their original value."
The community, located off Rte. 2 and close to major interstate highways I-190 and I-495, offers convenient access to Boston via the MBTA's Fitchburg Commuter Rail Line.
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
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:
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.