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Pioneer Apartment Community Sells for Record $132 Million – Everett Independent


The Pioneer apartment community on the Parkway – one of the first such new residences to open in the formerly industrial Commercial Triangle – has sold to Northwestern Mutual Life of Milwaukee for $132 million in a recent trade.
The Pioneer features 286 units of apartment housing with 50 different layouts and it opened to tenants in early 2019 – boasting some of the most modern amenities like fitness centers and community rooms and outdoor courtyards that Everett had yet to see. It was also literally the pioneer housing program in the Commercial Triangle, which now has thousands of units under construction or in the queue.
The Pioneer was the second such development for Andy Montelli of Post Road Development, as he had previously developed and then sold The Batch Yard on Lower Broadway long before Encore Boston Harbor located there. The Pioneer has now been equally successful in selling for a record price in the district, and transferring to a notable company like No ....

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Developers plan new student housing project on Cumberland Ave. to replace strip mall


Developers plan new student housing project on Cumberland Ave. to replace strip mall
Greystar Development is planning to build a new student housing complex with around 700 beds, after demolishing a strip mall on Cumberland Avenue.
Author: WBIR Staff
Updated: 6:21 PM EDT April 7, 2021
KNOXVILLE, Tenn. Students in Knoxville may soon have another choice of where to live when a student housing project is completed on Cumberland Avenue.
Greystar Development is planning to build a new student housing community after demolishing an old strip mall. Records show that the project is expected to have around 700 beds for residents, as well as an outside courtyard, a swimming pool, a fitness center, study rooms, computer rooms, a gaming room, a lounge area and a fire pit. ....

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Mack-Cali Names Mahbod Nia Chief Executive Officer


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JERSEY CITY, N.J., March 3, 2021 /PRNewswire/ Mack-Cali Realty Corporation (NYSE: CLI), a leading owner, manager, and developer of class A office and luxury multifamily real estate throughout New Jersey, today announced that its Board of Directors (the Board ) has named Mahbod Nia Chief Executive Officer, effective March 8, 2021. Mr. Nia, who has served as a director of Mack-Cali since June 2020, will succeed Interim CEO MaryAnne Gilmartin, who will serve as Special Advisor to ensure a smooth transition of responsibilities.  With the selection of a permanent CEO, and to allow for the election of an independent Board Chair in accordance with the applicable NYSE independence guidelines, Ms. Gilmartin has stepped down as Board Chair, and will not run for re-election to the Board at the Company s 2021 Annual Meeting of Shareholders. She will remain a director through the Annual Meeting and return to her full-time role as CEO of MAG P ....

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