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News: Front Section
Posted: December 30, 2016
What was your most notable project, deal, or transaction in 2016? - John Parsons of SVN|Parsons
John Parsons Jr.SVN | Parsons Commercial
Group | Boston
The sale of a 19.97 acre parcel on Rte. 140 in Franklin, Mass. to Wood Partners for $7.84 million for the construction of 280 apartments. This project was particularly rewarding because it truly illustrates SVN|PCG’s capabilities for creating value-add opportunities. The land was zoned industrial, and we suggested the highest and best use for the site would be multifamily. We helped the ownership assemble a team of skilled engineers, attorneys and an architectural firm to obtain a comprehensive permit to construct 280 units, and executed a controlled marketing process that yielded multiple qualified offers. Our client achieved a sale price that was a substantial multiple of what the property would have sold for as an industrial parcel.
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