Despite Sales, BPG Pledges Commitment to Bay State
By Joe Clements
Just because BPG Ltd. is divesting four commercial real estate assets in suburban Boston, including the former 3Com corporate campus in Marlborough that is being sold for a price approaching $135 million, the Pennsylvania-based investor is not abandoning Massachusetts, insists Vice President Albert J. Corr.
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Forum Puts Spotlight on Bay State Housing
By Aglaia Pikounis
Three candidates for governor said during a forum focused on housing-related issues that local housing authorities should be required to verify that those applying for public housing are legal residents of the country.
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Final Wal-Mart Check-Cashing Hearing Held
By Andrea Gregory
Wal-Mart last week took one final shot at convincing the state Division of Banks it would be filling a community need by offering check-cashing services at all of its 44 retail stores in Massachusetts.
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Correspondent Banking Services Growing at Hub-Based Eastern
By Andrea Gregory
For decades, banks have been doing business with other banks when it comes to overnight investments: clearing checks drawn on other institutions, delivering coin and currency to branches and ATMs and buying and selling bonds for a bank’s investment portfolio, among other things. It can be an interesting relationship – competitor by day business partner by night – said Lloyd Hamm Jr., chief administrative officer for Boston-based Eastern Bank.
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Breakfast Program Speaker’s Message on Market Is Mixed
By Joe Clements
In the keynote talk during last week’s midyear commercial real estate review at Boston’s Back Bay Westin, AEW Capital Management principal Douglas Poutasse occasionally wavered in his message, delivering seemingly contradictory information about future prospects for the industry. Given his subject material – the economy – such hedging would seem understandable, however.
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State Tax Credit Program Gets a Significant Boost in Funding
By Aglaia Pikounis
A state tax credit program that is helping to transform vacant mills and other underutilized historic properties into apartments and offices has received a significant funding boost – a move that preservationists hope will encourage more developers to take on restoration projects.
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