Behind the Scenes of the Marathon11
Total Page:16
File Type:pdf, Size:1020Kb
OUTSIDE THE BOX BEHIND THE SCENES OF THE MARATHON 11 LARGEST MASS. VENTURE CAPITAL DEALS 14 COMMERCIAL LENDERS ARE IN DEMAND, AND THEIR AVERAGE PAY IS ON THE RISE. HERE’S WHY BOSTON’S COMMUNITY BANKS ARE PILING INTO ONE OF THE INDUSTRY’S FEW REMAINING PROFIT CENTERS. American City Business Journals - Not for commercialLoan use RangersBY GREG RYAN, 12 Charlestown Marina’s Chuck Lagasse flanked by Berkshire Bank’s George F. Bacigalupo (left) and John Malvey. W. MARC BERNSAU MARC W. HEALTHCARE INC. It’s all a matter of perspective After 15 years running Dana-Farber,arber, retiring CEO Dr. Ed Benz says thethe institution needs a fresh perspective.pective. JESSICA BARTLETT, 7 INFORMATION SOCIETYTY STARTUPSSTARTUPS & VC STARTUPS & VC Finalists for CIO ofof the Year named FROM $8K TO $275K: The Boston CIO Leadership ZAPPRX SNAPS UP EX-GOOGLERS Association and the BBJ announce TURNING TO KICKSTARTER finalists for the annual awards. 18 AND GETS $5.6M INVESTMENT 8 TO RAISE CASH 8 BOSTON Breaking news online BUSINESS JOURNAL r BostonBusinessJournal.com April 10, 2015 Vol. 35, No. 10, $6.00 On smartphones and tablets 160 Federal Street BostonBusinessJournal.com/apps 12th Floor Boston, MA 02110 Daily email updates L BostonBusinessJournal.com/email 2 BOSTON BUSINESS JOURNAL READERS GUIDE R NEWSMAKERS R COMING UP ABC JKL OUTSIDE THE BOX Acorn Holdings ............. 12 JRM Hauling and Recycling ............ 12 Ad Meliora LLC ................4 R Keefe Bruyette April 17: Toughest Golf Courses in Mass. Alere .............................. 6 & Woods 12 R April 24: 100 Largest Private Companies Alexandria Real Estate Kickstarter ..................... 8 R May 1: General Contractors Equities ....................... 4 Lagasse, Chuck ............. 12 R May 8: Architectural Firms ArQule ........................... 7 R May 15: Cyber-Security Companies Bacigalupo, George ....... 12 MNO Barry, Zoe ...................... 8 M&M Associates ............12 Want to be on The List? Email Sean McFadden at [email protected] to request a Beach, Gary .................. 22 Matter ............................ 8 survey. Belmont Savings Bank ... 12 McCaffrey, Maura ..........22 Benz, Ed ......................... 7 Means, Calley ................. 8 Berkshire Bank .............. 12 Moot, Suzanne ..............12 Berthiaume, Douglas .......7 Motzkin, Jim .................12 American City Business Journals - Not for commercial use BioMed Realty ................ 4 Needham Bank ..............12 DIGITAL AND SOCIAL MEDIA Blue Hills Bank ..............12 Nichols, Matt .................. 8 R Twitter: Follow us @BostonBizNews Caputo, Arthur ................7 O’Leary, Thomas .......... 12 R Find us on: Facebook, LinkedIn and Cataldo, Michael ............ 8 Google+ PQR R Morning Edition: An email digest of top Cathedral Church of St. Paul ................... 4 Panoptes Systems .......... 8 stories from local, regional and national sources. Charles River Pegasystems .................. 8 Laboratories ............... 7 R Afternoon Edition: Afternoon roundup of Peterson, Rachel ............ 8 the day’s stories. Church of St. John the Evangelist ................... 4 Piela, Bo .........................4 R Digital Edition: Print subscribers can access a digital replica of the weekly print edition. Citizens Financial 12 Pucci, Paolo ....................7 R Newsletters: TechFlash, BioFlash, Rockland Trust ..............12 Convergent Dental ......... 8 Commercial Real Estate, Startups & Venture Cullinan, James............... 4 Capital. STU DEF Santander..................... 12 NEWS TIPS Dana-Farber Sarepta Therapeutics ...... 6 Former Boston Police Chief Dan Linskey was a cop for 28 years, a span Cancer Institute ........... 7 that saw him work a beat, run a narcotics unit, take down a runaway gorilla Contact reporters directly, or send news tips Sargent, Girard ............. 12 and attend the wounded as a first responder to the Boston Marathon to Managing Editor Craig Douglas at Dyax Corp. ......................6 Skylight ......................... 8 bombings. Next week, he talks about his latest eff ort: security consulting. [email protected]. East Boston Savings Bank ............. 12 Smith & Wilkinson .........12 Eastern Bank ................ 12 Steenbrugge, Jan ............ 4 Fortified Bicycle ..............8 Streit, Jep ...................... 4 R CONTACT US Foster, James ..................7 TD Bank ....................... 12 Trefler, Alan ...................8 EVENTS GHI The Boston Business Journal hosts Genzyme .....................4, 8 WXYZ networking, award and education Waters Corp. .................. 7 events throughout the year. View the Gilbert, Collyn .............. 12 schedule and register for events at GlaxoSmithKline ............. 6 ZappRx .......................... 8 BostonBusinessJournal.com/event. Greenworks .................. 12 R April 16: Pacesetters Hughes, Patrick ............ 22 R May 7: Women to Watch R Hyde Park Savings Bank .12 May 14: Real Estate Awards R June 11: Best Places to Work Ipsen .............................. 6 SUBSCRIBE Subscribe, make changes to your sub- scription or get help accessing the digital edition by contacting Michelle Laczkoski at 617-316-3207 or email at mlaczkoski@ bizjournals.com. You can also subscribe R CORRECTIONS at BostonBusinessJournal.com/sub- scribe. Fair and accurate coverage is at the heart of our mission. We will promptly print corrections of substantive errors. If you believe incorrect or unfair information has appeared in the Get social. Boston Business Journal, please contact Managing Editor ADVERTISE Craig Douglas at [email protected] Join our conversation on social media and become For advertising information, rates, an integral part of the news process. Tweet us, like editorial calendar and production BOSTON BUSINESS JOURNAL (ISSN 0746-4975) is us, follow us, yell at us, recommend us, tell us what specifications, go to: www. published weekly with a special issue in January by the we’ve missed and tell us what you think. bizjournalsmediakit.com/boston or Boston Business Journal Inc., The Landmark, 160 Federal contact Angela Canale St., Boston, MA 02110-1700, (617) 330-1000. Copyright Boston Business Journal Inc., ©2015. All rights reserved. @BostonBizJournl @BostonBizNews at [email protected] or call 617-316-3212 SUBSCRIPTIONS are $110 per year, $209, 2 years; /bostonbusiness journal /bostonbusinessjournal $220, 3 years. Periodicals postage paid at Boston, MA. POSTMASTER: Send address changes to Boston Business Journal, The Landmark, 160 Federal St., Boston, MA REPRINTS 02110-1700. Phone: (617) 330-1000, Capitalize on news and grow your fax: News (617) 330-1016, Advertising (617) 330-1015, business. Get the word out with reprints, Online: BostonBusinessJournal.com e-prints and commemorative plaques. Call Michelle Laczkoski at 617-316-3207 or go to bit.ly/reprintservices for the authorized provider of reprint products. Boston Business Journal is a publication of: American City Business Journals, 120 W. Morehead St., Charlotte, N.C. 28202 Whitney Shaw, CEO; Ray Shaw, Chairman (1989-2009) APRIL 10, 2015 3 UP FRONT SALTONSTALL SELLS MassDevelopment exits troubled real estate deal with sale to Intercontinental R THETHE BIGBIG NUMBERSNUMBERS MassDevelopment has confi rmed that the online roughly a decade ago, the 22-story ground lease for the 600,000-square-foot mixed-use tower at 100 Cambridge St. has 42 Saltonstall Building at 100 Cambridge St. accumulated a net loss of roughly $65 mil- The number of Dunkin’ Donuts in Boston has been sold for $279.6 million. lion while failing to generate enough cash franchises that Dunkin’ Brands The buyer was Intercontinental Real to cover its annual debt service. CEO Nigel Travis could aff ord based on the $15.1 million in Estate Corp. of Brighton. Th e deal closed Since August 2000, when state law- value he realized from the March 18, according to public records. makers committed to redevelop the long- vesting of stock options and MassDevelopment, the state’s quasi- neglected property, the project’s fi nancing the $10.2 million in direct public economic development agency, said as well as its management shifted under compensation he collected all of the property’s debt was retired fol- the stewardship of MassDevelopment. in 2014. According to the American City Business Journals - Not for commercial use company’s website, a franchise lowing the sale. Th e agency said the state Th e Saltonstall is roughly a decade into a owner is required to have will receive roughly $90 million in proceeds 50-year ground lease with the state. $250,000 in liquid assets while retaining ownership of the property’s As of June 30, 2014, the offi ce tower was and a minimum net worth underlying real estate. 98 percent leased, while rent from tenants of $500,000 per storefront. “MassDevelopment’s redevelopment of totaled around $23 million for the trailing Travis’ total did not account for the $71 million in company 100 Cambridge St. transformed a contami- 12 months. stock he owned as of March 15. nated city block into a vibrant urban com- Financial fi lings indicate that 100 Cam- plex,” said Gov. Charlie Baker, in prepared bridge St. managed to stay current on some remarks. “I am pleased that, in addition $159 million in bond debt secured by the 74 to returning a signifi cant sum to the com- property, but to date has failed to pay any The number of employees monwealth, this sale provides funds for the interest on another $20 million in debt at Bedford-based Ocular state’s Transformative