News: Financial Digest
Posted: January 14, 2022
Washington Trust provides financing to Quarry Milford LLC
Milford, MA Washington Trust’s Commercial Real Estate Group provided financing to Quarry Milford, LLC for the acquisition and redevelopment of Quarry Sq., a 196,674 s/f retail center, into a mixed use (retail and industrial/flex) property.
The borrowing entity is sponsored by RJ Kelly (RJK). RJK has expertise in acquisition, development/re-development, entitlement, construction, leasing, and asset/property management, with a portfolio consisting of land, office, R&D/flex, industrial, retail, mixed-use, and self-storage properties, and holdings throughout New England and beyond.
RJK intends to capitalize on the demand for industrial space by converting two vacant boxes (formerly Stop & Shop, TJ Maxx/HomeGoods) on the east side of the property to industrial flex space, while simultaneously repositioning the existing retail tenancy on the west side of the property. Once complete, the property will be comprised of 140,995 square feet of industrial flex and 55,679 square feet of retail space.
“We are excited to expand our relationship with RJ Kelly, who continues to meet market demand for industrial users,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Columns and Thought Leadership
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.