The product was acquired in 2004 when Berkley purchased a $97-million portfolio from Boston Wharf Co. Berkley had previously sold five of the properties from this portfolio to National Development and also was involved in a purchase-and-sale with Hanover Insurance Group for its development stake for CityCenter in Worcester, according to the Telegram & Gazette.
The development company is hoping to keep the property from going to auction, but as of yet, no changes to the bank's strategy have been announced. To read the full Herald article, click here.
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