UK firm targets Boston for stateside ground-up development debut
L&G Asset Management has made acquisitions in the United States before, but never developed its own ground-up project…until now. The United Kingdom-based company bought a site at 292 Baker Avenue in Concord, a suburb of Boston, the Boston Business Journal reported. It closed on the site last week for $4.75 million, according to property records. The seller of the site, Taurus Investment Holdings, is based locally and isn’t planning to go anywhere. In fact, Taurus is partnering with L&G on the project, lending its development expertise to the foreign company. The project is a two-building development, dubbed NOVO Riverside Commons. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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