BOSTON, March 28, 2012 (GLOBE NEWSWIRE) -- Group Boston Real Estate has been retained to assist the owner in soliciting joint venture/recapitalization proposals for Clippership Wharf, located on the Waterfront in East Boston.
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Clippership Wharf is ideally located on the burgeoning East Boston waterfront with unsurpassed views of Boston Harbor and the Boston Skyline. The property has superior access to public transportation with the newly renovated Maverick Square MBTA subway station located adjacent to the entrance to the property, providing access to downtown Boston and Logan Airport. With the Boston apartment market strengthening rapidly, the project owner Winn Development, is looking to capitalize on the strong demand for multifamily development in Boston.
Michael Carucci, Managing Partner of Group Boston Real Estate, said, "We are pleased to have the opportunity to assist Winn with this exciting project. With the property's impressive views and superior access to transportation, coupled with the city of Boston's renewed support for the East Boston waterfront, Clippership Wharf is poised to become a signature development in the revitalization of East Boston."
Aaron Wolfe, Vice President of Group Boston Real Estate, said, "East Boston represents one of the final frontiers in the transformation of the Boston Waterfront. With the ground breaking of the Fan Pier and Pier Four scheduled in 2012, South Boston's water front is now largely established creating significant potential in East Boston."
Clippership Wharf is located just off Maverick Square and the Jeffries Point neighborhood. Upon completion, Clippership Wharf will be one of metropolitan Boston area's premier apartment communities, with spectacular views of Boston and the harbor. With the prospect of a major casino development at Suffolk Downs, the economic incentives to redevelop East Boston's aging infrastructure are higher than ever.
About Group Boston Real Estate
Group Boston Real Estate operates a boutique full service brokerage firm in Boston. With a background comprising of over 100 years of collective real estate experience in every property category, and with an excess of $5 billion in successfully completed real estate transaction experience, the principals at Group Boston Real Estate approach each transaction a deal at a time and understand the challenges and complexities that are required to bring them to the closing table.
About Winn Development
Winn Development is one in the family of companies comprising the Winn Companies, a 40 year old real estate company headquartered in Boston, Massachusetts. Winn Companies develops, acquires and manages multi-family and mixed-use properties throughout the United States. Winn Companies has 2,600 employees located in 23 states creating and managing its portfolio of properties. Winn Residential manages over 80,000 residences across the country, and is the largest manager of housing for the U. S. armed forces. Winn Development has acquired and developed real estate holdings valued in excess of $1.5 billion.
