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| Boston’s 451 D St., known as the Fargo Building, is being given back by owner Yale USA Investment Corp. to its German lender, Munich-based HypoVereinsbank. |
Hub’s Fargo Building Taken Back by Lender
By Joe Clements
Sending a spring chill through the region’s office market, the owner of Boston’s 451 D St. is giving the 480,000-square-foot building back to its German lender, Banker & Tradesman has learned. Yale USA Investment Corp. paid $72 million for the asset in April 2000, backed by a $67 million note from Munich-based HypoVereinsbank.
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Hub’s Office Sector Shows Mixed Signs in 1st Quarter
By Joe Clements
One step forward. Another back. And a third sideways. Continuing its wayward path to recovery, Boston’s office market could be getting a boost from a suburban firm migrating in from Needham, with Pearson Education said to be close to leasing more than 100,000 square feet in the Back Bay. The signals are mixed elsewhere, however, as sources also claimed that Fidelity Investments is about to dump about 180,000 square feet of space at 100 Summer St. onto an already bloated sublease market.
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Local Lenders Launch Pro-Realtor Campaigns
By Aglaia Pikounis
In an effort to boost business and combat aggressive advertising designed to convince homeowners they don’t need a real estate agent to sell their homes, a few Bay State lenders have launched campaigns promoting the use of Realtors.
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Credit Union Pushes Case for Bank Conversion
By Melanie Nayer
For the past three years, Postal Community Credit Union has unsuccessfully lobbied state regulators to approve a charter change that would allow the state-chartered credit union to become a federally chartered savings bank. But now that a former top state regulator who opposed the plan has taken a position at the Federal Deposit Insurance Corp. and said he favors the conversion of some credit unions to banks, Postal Community officials are renewing their efforts to win approval for their petition.
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Anne’s Wood in Lincoln Offers Buyers ‘Turnkey Opportunity’
By Joe Clements
Henry David Thoreau should have had it so easy. Just a short stroll through the woods from Walden Pond lies a real estate opportunity light years from Thoreau’s famed 19th century do-it-yourself project. The naturalist’s Spartan existence would be in sharp contrast to the accouterments available at Anne’s Wood in Lincoln, a 30-acre complex abutting Route 2 that has previously served as an Episcopal convent and most recently as a school for Japanese students.
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