Boston, MA – May 24, 2013 – (RealEstateRama) — Nixon Peabody LLP is honored to announce that two firm clients, the Boston Tea Party Ships & Museum and Hostelling International, were among the commercial real estate industry projects recognized by the Boston Business Journal in its inaugural Best In Boston Real Estate Awards. Both projects were named award finalists along with other movers and shakers in the Greater Boston’s real estate industry from major developers and brokers to dealmakers and builders recognized by the BBJ.
In the “Community Impact” category, the Boston Tea Party Ships & Museum was one of two finalists. The facility, located on the Fort Point Chanel in Boston, opened to the public in early July 2012. The museum closed for renovations since 2001 when it was struck by lightning; a second fire also damaged the site in 2006. It is owned and operated by Boston Tea Party Ship, Inc.—a wholly owned subsidiary of Historic Tours of America (www.historictours.com). Nixon Peabody attorneys, led by Boston partner Larry DiCara, advised Boston Tea Party Ship, Inc., and helped them navigate numerous government regulations, negotiated construction and development contracts, completed the acquisition of project site, and negotiated the multi-tiered financing, securing the construction loan and grant proceeds.
Hosteling International-USA: New Boston Hostel (HI-Boston) was selected among the three finalists in the “Rehab/Renovation” category. Boston partner Jeffrey Sacks and a Nixon Peabody team represented HI-USA and its affiliates in the closing on the financing of a state-of-the-art youth hostel in Boston. Hostelling International-USA, also known as American Youth Hostels, is a nonprofit organization that provides affordable accommodations to young people traveling around the U.S. After creative financing—and extensive renovations that infused environmentally sustainable features while preserving the building’s historic significance—the new Boston hostel (HI-Boston) opened in June 2012.
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