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Real Estate Bulletin, July 2014

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| 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. 

Extensive Permitting Work for 13 Whole Foods Stores

Whole FoodsNutter has assisted Whole Foods to secure permits for 13 stores and recently met the challenge of obtaining permits for seven of these stores within a six-month timeframe. The Nutter team obtained special permits, site plan approvals, and licenses for opening and operating all seven new stores. Recently, Nutter secured permits for the opening of its newest store in Hyannis, Massachusetts and is working with Whole Foods to permit its new flagship store at Ink Block in Boston's South End as well as its first store in New Hampshire.

Refinancing of Seaport Hotel in Boston, Massachusetts

Seaport HotelNutter represented Cornerstone Real Estate Advisers, on behalf of an institutional client, on a $75,000,000 loan to Seaport Hotel Limited Partnership and Seaport Garage Limited Partnership. The loan is secured by the Seaport Hotel, a 428-room hotel in Boston's Innovation District, as well as the hotel's portion of the underground garage which serves the Seaport Place hotel/office complex.

Formation of Joint Venture to Acquire 168-Unit Independent Living Facility Out of Bankruptcy

BayNorthNutter represented BayNorth Capital in connection with the formation of a joint venture with Benchmark Senior Living to acquire a 168-Unit independent living facility in Lincoln, Massachusetts from a seller that filed for Chapter 11 bankruptcy protection in connection with the proposed sale. Nutter's multi-disciplinary representation included participating in the negotiations with the Seller and bondholders; reviewing bankruptcy documentation; preparing and/or negotiating a joint venture agreement; reviewing zoning and other land use matters and health care licensing matters pertaining to the proposed development of an assisted living and memory care facility and a skilled nursing facility on the site and participating in the negotiation of an acquisition loan.

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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