(Read more on the multifamily market.)
QUINCY, MA-After years of work to design, permit and constructNeponset Landing, Conroy Development has received its payday forthe 12-story, 280-unit apartment building. Northwestern Mutual LifeInsurance Co. of Milwaukee, WI, has completed a $75.5 millionpurchase of the building, which sits along the Neponset River inNorth Quincy.
The sale to Northwestern was pre-arranged and subject tocompletion of the multifamily asset at 2 Hancock St. TheArchitectural Team of Chelsea designed the structure, whichfeatures two levels of parking and 10 residential floors. LeeKennedy & Co. was contractor for Neponset Landing, withconstruction financing provided by Wachovia Bank.
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