Boston– Boston law firm Sherin and Lodgen LLP announced that its Real Estate Department represented First Highland Management and Development Corporation on the successful development, construction, and sale of a major portion of the Yard 5 project on Industrial Drive in Readville, Hyde Park, MA.
First Highland acquired the 20 acre site from the MBTA and commenced permitting in 2014. First Highland obtained permits for five buildings comprising 250,000 square feet of industrial use and a four acre National Grid natural gas service center. At the time of the sale, tenants include Tesla, Dana-Farber, Bodega, Clover, and ePac, in addition to National Grid. Intercontinental Real Estate Corporation acquired Yard 5 for approximately $105 million.
The Sherin and Lodgen team was led by Real Estate Department partners Ronald W. Ruth, Laura Kaplan, and Ian T. Lane. The team represented First Highland in connection with the acquisition, permitting, financing, construction, leasing and sale of the project. Specifically, Kaplan handled the sale and leasing and Lane handled financing.
As co-chair of the Environmental Law Group, Ruth concentrates his practice on real estate, land use, and environmental law. Kaplan advises clients on acquisition, disposition, leasing, financing, and development of office, industrial, retail, and mixed-use properties. Lane concentrates his practice on complex financing transactions, including CMBS loans, representing lenders, borrowers, and investors.
The Real Estate Department at Sherin and Lodgen is one of the deepest in New England and assists clients in the full range of real estate matters. The department handles every type of real estate transaction including acquisition, disposition, development, land use planning and permitting, public-private projects, leasing on behalf of owners and tenants, title review, construction and design contracts, ground and air rights leasing, and financing. The department’s real estate attorneys strive to understand the business challenges of the transaction, combining sophisticated legal acumen with practical insights.