April 16, 2018
Apr 20, 2018 | Reprints
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Philips HQ Move to Cambridge Could Grow Larger
Just three months after announcing a new 243,000-square-foot headquarters for 2,000 employees at Cambridge Crossing, Philips North America is reportedly committing to nearly 100,000 square feet more in the speculative development.
HarborOne’s Profits Slow from Last Year
Following a busy quarter that included an acquisition and rebranding of some of its mortgage operations, the parent company of Brockton-based HarborOne Bank reported net income of $2.3 million, or $0.07 per diluted share, for the first quarter of 2018, compared to $2.7 million, or $0.09 per diluted share, for the same quarter last year.
Citizens Closes Marijuana-Related Accounts; CA Proposes State Bank
Local news outlets are reporting that Citizens Bank last week told customers with connections to the marijuana industry that their accounts would be closed.
Early Literacy Grants Gain Support Ahead of Budget Debate
Among the 1,400 amendments to the House’s fiscal 2019 budget is a proposal to create a new grant program intended to help schools boost early literacy.
Fake City Employee Steals $1.4K from Home
Police in Massachusetts are warning residents to watch out for a person posing as a city employee in order to steal from people’s homes.
Community Good Works
Freedom Credit Union, Skanska and Walpole Co-operative Bank are among the organizations giving back to their communities in this week’s roundup.
Boston Climbs Global Ranks in CRE Investment
Greater Boston’s growing tech economy is acting as a catalyst for commercial real estate investment, with the region topping Silicon Valley and 11 other global markets categorized as “innovators” in a new JLL report.
After Profitable Quarter, United Bank to Take More Conservative Approach
The parent company of Hartford, Connecticut-based United Bank reported strong profits in the first quarter of 2018, but is planning to take a more conservative approach for the rest of the year due to compressed credit spreads and a lower margin.
Army Corps Offices Sold for $11M to Lexington Developer
A 28-acre property including the New England offices of the Army Corps of Engineers has been sold for $11 million to Azad Legacy Partners LLC, a Lexington-based developer.
Home Renovation Spending Strong in Q1, Expected to Continue
Apr 19, 2018 | Reprints
The robust pace of spending on home renovations and repairs is expected to stay strong over the coming quarters, according to the Leading Indicator of Remodeling Activity released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.
Health Cost Estimators Catching on, Pioneer Report Says
Private health insurers are “waking up to” benefits of price transparency, but work remains to reach the potential for cost savings from providing consumers with more information, according to a new study from the Pioneer Institute.
AG: MBTA Failed to Publicly Bid Construction of North Quincy Parking Garage
Apr 19, 2018 | Reprints
MBTA violated the law by failing to publicly bid construction of a new parking garage at the North Quincy MBTA station, according to a new ruling from the attorney general’s office.
Union Fund Acquires 177 Huntington Ave. Lease For $137.5M
A real estate fund affiliated with the AFL-CIO has acquired the ground lease on 177 Huntington Ave. in Boston’s Christian Science Plaza for $137.5 million.
MassHousing Provides $28M for Adaptive Reuse in Lawrence
Apr 18, 2018 | Reprints
MassHousing has closed on a total of $28.8 million in financing for the creation of a new, 180-unit affordable housing community in Lawrence, where Reed Realty Advisors will turn a section of the former Pacific Mills cotton complex into new mixed-income housing for households with a range of incomes.
Somerville Nonprofit Receives $6.9M in Financing
Apr 18, 2018 | Reprints
MassDevelopment has issued a $6.9 million tax-exempt bond for Somerville Community Corp. Inc., a nonprofit that supports low- and moderate-income Somerville residents by promoting and preserving affordable housing.
Boston Home Center Awarded Grant to Continue Work on Foreclosure Prevention
Boston Mayor Martin J. Walsh yesterday announced the Boston Home Center has been awarded a $190,000 grant for its work on foreclosure prevention.
Morgan Stanley Profit Beats Estimates on Trading Boost
Morgan Stanley posted a better-than-expected first-quarter profit on Wednesday, as its trading business drew strength from increased market volatility in line with other major banks.
Goldman’s Faith in Roaring Markets Met with Skepticism on Wall Street
Goldman Sachs Group Inc. is so confident in its recent business boom that it will pause share buybacks in the second quarter and instead use capital to facilitate trades, loans and deals for customers, its finance chief said on Tuesday.
Boston PE Firms Snaps Up Payments and Software Companies
Apr 17, 2018 | Reprints
Global private equity firm Advent International has completed the acquisition of a majority stake in Clearent, a leading full-service payments solution provider, and the acquisition of FieldEdge, a leading field service management software provider.
