News: Front Section
Posted: January 22, 2016
William James College purchases One Wells Ave. for $18 million from New England Development
One Wells Avenue - Newton, MANewton, MA William James College, a leader in educating mental health professionals and the largest graduate psychology program in New England, has purchased One Wells Ave., for $18 million. William James College moved to the 85,788 s/f property in August 2012, originally occupying the ground floor through the third floor and then obtaining the remaining floors four and five in July 2015.
“This acquisition represents a major step forward for our work and greater security for our mission,” said Nicholas Covino, president of William James College. “We hope to take advantage of this additional space in order to expand the educational options we provide our students as well as the work we do in the community.”
The additional space will be used for administrative offices, classrooms, and conference rooms. One Wells Ave. now houses the Leon O. Brenner Center for Psychological Assessment and Consultation.
Commercial real estate firm Transwestern assisted William James College in the purchase of One Wells Ave. from the owner, New England Development. William James College obtained tax-exempt financing for the purchase from East Boston Savings Bank with the assistance of its financial advisor, SJ Advisors.
Founded in 1974 as an independent graduate school of psychology, William James College is the largest graduate psychology program in New England, offering 13 unique training programs, including organizational and leadership psychology programs, for mental health professionals at the doctoral, master’s and certificate levels, each designed to immerse students in both academic study and real-life clinical experience. William James College has been the leader in educating mental health professionals who are committed to meeting the needs of our most vulnerable populations and is constantly assessing and evolving to meet the needs of a rapidly changing and increasingly diverse society. The College’s highly skilled professionals care for Latinos, veterans, children, adolescents and families in a variety of settings, including the schools, the courts, the community and the workplace.
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,
Columns and Thought Leadership
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:
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.
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.
