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August 9, 2022

This Week's Boston Deal Sheet

WinnCos. Director Of Sustainability Christina McPike Discusses BERDO 2.0's Impact On Short-Term Development Strategies Sept. 27

Cleveland-based The NRP Group sold a newly developed apartment building on Revere's waterfront to UBS for $80M, according to filings posted Friday in Massachusetts Land Records.

This Week's Boston Deal Sheet

NRP broke ground in 2019 on the 145-unit apartment project at 323 Revere Beach Blvd., using $35.3M in construction financing from Capital One. It completed the building, branded BLVD at Revere Beach, in June 2021. NRP and UBS both declined to comment on the sale. The apartment building includes a mix of studio, one-bedroom and two-bedroom…

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Biotech Firm Looks To Give Back Over 250K SF In Boston Area Following Layoffs

Biotech Firm Looks To Give Back Over 250K SF In Boston Area Following Layoffs

Cambridge-based life sciences company Biogen has put over 263K SF of office space in two buildings in Cambridge and Weston on the sublease market. The company has listed more than 183K SF at 300 Binney St. in Cambridge and another 80K SF at 133 Boston Post Office Road in Weston, the…

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The CHIPS Act Could Kick Off A Comeback For Factory Towns

President Joe Biden is poised to sign the $280B CHIPS and Science Act of 2022 into law this week, and when he does, he will kick off a spending spree that could spur economic development booms in cities and towns across the country — especially ones with electricity and water aplenty.

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Boston Adds Teeth To Longstanding Rule Requiring Developers To Fund Childcare Boston Adds Teeth To Longstanding Rule Requiring Developers To Fund Childcare
Developers Aim To Add 2 Residential Buildings Next To Fenway Church Developers Aim To Add 2 Residential Buildings Next To Fenway Church
 
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The Recession Means It's UK Single-Family Rental's Big Moment

LONDON — City centre apartment blocks have absorbed most of the wave of capital trying to get into the UK homes-for-rent business. Until now.

That investment could tilt to single-family rental development, because investors believe it is more recession-friendly, and because a big obstacle to expansion will be weakened as the economy gets worse.

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Hotel REIT Earnings Beat 2019 Results As Urban Markets Bounce Back

 

A resurgence of group travel reignited hotel profits in the second quarter, allowing some hospitality real estate investment trusts to earn a profit for the first time since 2019.

In a promising sign for major U.S. markets, the quarter's demand growth was strongest in cities that had been slower than their Sun Belt counterparts to recover, such as Washington, D.C., San Francisco and Chicago.

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