Somerville Office Associates (“SOA”) sold two parcels of land to defendant Cresset Development (“Cresset”), an improved parcel and an unimproved parcel.

After an 18-month study process, the Boston Planning Department has released an Action Plan proposing strategies to modernize Boston’s development review process.

I recently attended the IMN Distressed CRE Forum in New York. It was also striking to note how similarly everyone views the current challenges and opportunities around distressed commercial real estate.

After executing a purchase and sale agreement for the entire property, the parties agreed to split the transaction into two staggered sales, reduce the purchase price, and include an earnout provision in connection with potential future development.

A creative attempt by a borrower to forestall foreclosure and recover damages against its lender ended badly for the borrower, with the borrower and its counsel being sanctioned.