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Articles and Archives
9/8/2004

Construction
Perini Corporation Enters Into Letter of Intent to Acquire Cherry Hill Construction Company, Inc.;
FRAMINGHAM, Mass.--Perini Corporation, a leading building, civil construction and construction management company, announced that it had signed a letter of intent to acquire Cherry Hill Construction Company, Inc., a privately held construction company. Based in Jessup, Maryland, Cherry Hill Construction Company, Inc.

Finance
HFF secures $46.35 million in construction & permanent financings for 670 Albany Street at BioSquare in Boston
BOSTON--The Boston office of Holliday Fenoglio Fowler, L.P. (HFF) has arranged $46.35 million in construction and permanent financing for the development of 670 Albany Street, a 160,000-square-foot biotechnology research building within the BioSquare complex in Boston. HFF senior managing director Riaz Cassum, with senior real estate analyst Anthony Cutone, worked on behalf of 670 Albany St 2004 LLC to arrange both financings. The ten-year, fixed-rate forward permanent financing was secured through New York State Teachers Retirement System, and the two-year, adjustable-rate construction loan was arranged with Fleet Bank.

Union Place, LLC Completes $48 Million Equity and Debt Placement
FRANKLIN, Mass. - Winchester Capital, LLC a real estate investment banking firm, announced the completion of a $48,000,000 equity and permanent debt placement on behalf of Union Place LLC. A Midwestern financial institution provided both the equity and debt financing.

Leasing
CRESA Partners Boston Represents Genesis Healthcare and Yankee Alliance in Andover Leases Totaling 39,000 SF
ANDOVER, Mass.-Mitchell Jacoby and Joe Doyle of CRESA Partners Boston, a corporate real estate advisory firm specializing in tenant representation, recently represented Genesis HealthCare and Yankee Alliance in office leases totaling 38,948 SF in Andover. Genesis HealthCare, a long-term care and rehabilitation therapy provider, renewed its lease of 29,200 square-foot at 200 Brickstone Square in Andover, part of a three-building, 1 million SF office complex.

Paradigm Properties Leases 2,093 SF to Clean Air Task Force at 18 Tremont Street in Boston
BOSTON-Paradigm Properties LLC, a Boston-based real estate investment and management firm, leased 2,093 square feet of office space to The Clean Air Task Force at 18 Tremont Street in downtown Boston. "This deal is another example of the fact that even in this current soft market, our reputation as a company and the services we offer still attract tenants," said John T.

On the Market
MassHousing Announces Record Lending for Affordable Housing in Fiscal Year 2004
BOSTON--MassHousing announced that it provided $704 million in financing for more than 7,000 housing units in fiscal year 2004, which ended June 30. It was the strongest lending year ever for the 38-year-old quasi-public agency. "We are making great strides to increase the supply of housing in Massachusetts and to help more people achieve the dream of home ownership," said Governor Mitt Romney.

People
C&R / Rizvi Hires Associate Principal
BOSTON - C&R / Rizvi announced that Robert J. Rink has rejoined C&R / Rizvi as an associate principal. Mr. Rink brings his experience as a senior designer and project architect on a broad variety of architecture and interior design projects to C&R / Rizvi.

Paradigm Properties' Urban Facilities Group Hires Joseph I. Mulligan III as Senior Associate
BOSTON-Paradigm Properties' Urban Facilities Group (UFG), which manages real estate development, expansion, and disposition of facilities for nonprofit institutions, industrial businesses, and divisions of state and local governments, today announced that Joseph I.

Pyramid Hotel Group Names Alan Bednowitz VP of Sales & Marketing
BOSTON--Pyramid Advisors LLC, a full-service, Boston-based development, management and advisory firm, serving clients in all phases of the hospitality industry, announced the appointment of Alan Bednowitz as vice president, sales and marketing. In his new position, he will be responsible for leading the sales and marketing initiatives at the company's 38 owned, managed and asset-managed hotels.

Robert Caruso to Lead CB Richard Ellis Westchester/Fairfield Operations
STAMFORD, Conn.--CB Richard Ellis, Inc. announced that Robert Caruso will assume responsibility for the firm's operations in Westchester and Fairfield counties. Mr. Caruso, based in the firm's Stamford, CT office, will be promoted to Managing Director. Dean Shapiro, who will take over responsibility for the firm's Midtown Manhattan brokerage operations, will transition his Westchester/Fairfield duties to Mr.

Retail
Finard & Company Awarded Management Contract For 75,000 Square Foot Retail Center
BURLINGTON, Mass.- Finard & Company, LLC has been awarded a property management contract for a 75,000 square foot shopping center in Stoughton, Mass. Invesco Realty Advisers awarded the contract for Super Stop & Shop Plaza at 278 Washington Street in Stoughton.


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