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Real Estate Bulletin, May 2015

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05.12.2015 | Legal Update

The Nutter Real Estate Bulletin is a periodic update that highlights recent client transactions for which we have been pleased to serve as legal counsel. For further information, please contact your Nutter attorney. 

Related Beal proposes mixed-use development in Downtown Boston

Related Beal

Nutter recently represented an affiliate of Related Beal LLC in its acquisition of land and development rights for a mixed-use project in the burgeoning North Station area of Boston. Related Beal's project will be constructed in conjunction with a ground and air rights lease with the Massachusetts Department of Transportation. The project will include the first large-scale residential development exclusively offering below-market rental rates and will also include a 220-room hotel, ground floor retail space, as well as parking. Nutter's representation included advising Related Beal on a myriad of complex issues, including subdivision, title, air rights, development rights, Boston zoning, and state and local entitlements. The site is located near Related Beal's residential and office development at Lovejoy Wharf, for which Nutter has also advised Related Beal.

Boston Properties continues development work in Waltham

Nutter represented Boston Properties in connection with the development and sale of 130 Third Avenue in Waltham to Thermo Fisher Scientific for its global corporate headquarters, including obtaining all of the permits and approvals required for the development of the site, subdividing the property to create the development parcel, and drafting and negotiating all of the various purchase and sale, development and property-related agreements, licenses and easements relating to the project. 

Connecticut General Life Insurance Company finances Virginia office complex and Sedona resort and spa

Nutter represented Connecticut General Life Insurance Company on a $60,000,000 loan secured by a portion of the Towers Crescent office complex, consisting of 290,000 square feet of Class A office space in Tysons Corner, Virginia. Nutter also represented Connecticut General Life Insurance Company on a $37,500,000 loan secured by the Hilton Sedona Resort and Spa, a 219-room hotel with an adjoining luxury spa in Sedona, Arizona. 

Wood Partners establishes strong presence in Boston-area multi-family residential market

Nutter has assisted Wood Partners, a national multi-family housing developer, in the permitting and development of 9 multi-family residential developments consisting of over 1,700 units in the Boston area since 2010. In connection with these projects, the Nutter team has helped Wood Partners obtain a wide range of local, state, and federal permits, including special permits and site plan approvals from municipalities; state approvals under the Massachusetts affordable housing statute, M.G.L. c. 40B; wetlands permits and water quality certificates from the Massachusetts Department of Environmental Protection; and discharge permits under the federal Clean Water Act. Nutter has also drafted complex easement and restriction agreements governing the use and development of the projects, has negotiated affordable housing restriction agreements with MassHousing and the Massachusetts Department of Housing and Community Development, and has issued opinions to enable the client to obtain construction and acquisition financing.

This update is for information purposes only and should not be construed as legal advice on any specific facts or circumstances. Under the rules of the Supreme Judicial Court of Massachusetts, this material may be considered as advertising.

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