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The 33-story mixed-use project at 40 Trinity Place in Boston's Back Bay upon completion will feature 147 hotel rooms and 146 residential units, as well as multiple amenities and dining options.
All together the REIT has entered into definitive agreements with two new operators and completed a transaction with a third new operator involving 24 hospital facilities for a total investment of approximately $1.75 billion.
Transwestern Commercial states that multiple submarkets throughout the state are experiencing higher than 5% year-over-year growth in rents including Woodbridge/Metropark, Edison South, Parsippany Region, Hudson Waterfront, Wayne/Paterson and Somerset/Interstate 78 East.
In looking at opportunities to grow capital markets, JLL was clear that any target would need to closely align with its culture and strategic vision, and it is confident the acquisition of HFF meets these criteria.