Be the trivia champ this week and blow your friends away with real estate facts, breaking news and data! No cheaters allowed, but you know that, so take a quick peak at this Boston real estate roundup, which covers the past two weeks’ most “in-the-know” stories. Also, take a dip into our Boston Real Estate Resource Library, real estate glossary, and tune up on the home selling, home buying, and apartment rental processes. You will be sure to impress your friends at this week’s trivia night. Well, at least in the real estate section – fingers crossed you’ve got your mad skills in tact when it comes to movies, actors, and history class. Good luck out there!
Boston Real Estate News
Boston man convicted in fraud that lured JP Morgan, Wells Fargo, WaMu & Countrywide
“A Boston man in a line of real estate schemers accused of faking out banks during the height of the housing bubble has been convicted of fraud.”
Boston’s commercial real estate market leading national recovery
“Boston’s commercial real estate prices are fast approaching peak levels last seen in December 2007, while the local market as a whole is head-and-shoulders above the rest when comes to rebounding from the depths of the most-recent recession.”
Boston official named to head Baltimore Development Corporation
“Brenda McKenzie, who heads the economic development division of the Boston Redevelopment Authority, has been chosen to lead the Baltimore Development Corp.”
Boston tenants fight rent hikes, evictions
“In April, soon after acquiring the rental complex for $26 million, Alpha raised rents overnight by 25 percent to 40 percent. Alpha gave tenants 30 days to accept the rent hikes or face eviction.”
Warren Group corrects its September foreclosure data
“Boston real estate tracker The Warren Group acknowledged that its September foreclosure report contained errors.”
RLJ Lodging Debuts in Boston – Analyst Blog
“Bethesda, Maryland-based RLJ Lodging Trust (RLJ), a real estate investment trust (REIT), recently entered the Greater Boston market with the acquisition of Embassy Suites in Waltham, Massachusetts. The purchase price of $64.5 million signifies a forward capitalization rate of around 7.9% on the hotel’s estimated net operating income in 2013.”
Biomedical institute in Watertown fields bids for HQ ahead of vote to wind-down
“The Boston Biomedical Research InstituteInc. has listed its Watertown, Mass., headquarters for sale and is fielding bids from prospective buyers ahead of a voluntary Nov. 15 vote to wind down its operations.”
Locke-Ober sale price
“The new owners of the Locke-Ober building in downtown Boston paid $3.3 million for the property, at right, according to state real estate records.”
Davis Cos. raises $414 million for second real estate fund
“The Davis Cos. of Boston said it raised $414 million for its second real estate development fund.”
$50M expansion complete at Cubist Pharmaceuticals
“The $50 million expansion and renovation on Hayden Avenue includes the vertical expansion of its north building to create two additional floors for R&D, operations and support functions.”
Greater Boston hotel occupancy down, rates up in September
“Greater Boston area hotels reported mixed results in September as the occupancy rate fell and the average daily rate increased, according to the latest PKF Consulting USA Hotel Industry report.”
Massachusetts high-end housing market holds steady
“The number of homes selling for $1 million and over in Massachusetts was 1,915 during the past year, almost unchanged from the 1,913 homes that sold for $1 million and over the year before.”
Jamaica Plain fight has Home in bind
“The Home for Little Wanderers, a 200 year-old social services agency, realized several years ago that it was cash-challenged but land-rich.”
Brockton group aims to block increase in property taxes
“A Brockton-based taxpayer group comprised of residents, business owners and an aspiring mayoral candidate have organized to oppose the city council’s pending vote to raise property taxes.”
Boston dodged a bullet with Sandy, but we may not be as lucky next time
“The Boston Redevelopment Authority is now asking developers of major projects to explain how they plan to accommodate the impacts of climate change.”
Now that you’ve gotten your Boston real estate news fix, see what’s new on the market:
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