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| Boston Wharf Co. properties along Summer Street in Boston's Fort Point Channel area. |
Goldman Sachs Frontrunner in Chase for Boston Wharf Holdings
By Joe Clements
An attempt to purchase the remaining piece of Boston Wharf Co.’s Fort Point Channel real estate holdings by president Robert N. Kenney and Lehman Bros. has faltered, sources have told Banker & Tradesman. Instead, the assortment of office, industrial and retail space in 17 buildings is being chased by four major players, with Goldman Sachs now expected to snag the portfolio. The winning bid is tabbed at $92 million, according to sources who also reported that a purchase-and-sale agreement is being finalized between Goldman and Boston Wharf’s London-based owner, the Peninsular & Oriental Steam Navigation Co.
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Equity Office Loses Tenant, Gains Building in Burlington
By Joe Clements
Equity Office Properties appears to be losing a major Burlington tenant but gaining an even larger office building in that suburban Boston community. According to industry sources, the Chicago-based real estate investment trust is saying goodbye to Bank of America at 7 New England Executive Park while at the same time agreeing to acquire 25 Burlington Mall Road from Prudential Real Estate Investors.
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Junior Bank Managers Take on Senior Roles
By Jennifer Jope
What would happen if the senior management of all the banks in one community were flying to Washington, D.C., the plane disappeared and was never found? That was one question posed to 44 junior bank executives last week at the Massachusetts Bankers Association School for Financial Studies.
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Cape Realtors Woo Brazilian Buyers, Agents
By Ashley Wilkins
In response to a growing Brazilian community in the town of Barnstable, the Cape Cod & Islands Association of Realtors has created a program designed to aid Brazilian homebuyers and tap into that burgeoning market by attracting to the profession new real estate brokers who speak Portuguese and understand Brazilian culture.
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Burlington Firm Offers Banks Intranet Service for Employees
By Jennifer Jope
Financial institutions have worked hard in recent years to offer the latest technological services to their customers, ranging from the ability to check balances online to the opportunity to pay bills via the Internet. But now, some of the same institutions are offering new technology to their employees via an intranet site.
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