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The Grossman Companies Closes $3M Offering for Braintree Executive Park - cbl
Posted July 6, 2011
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Louis Grossman
By Bill Murphy
QUINCY, Mass. -- The Grossman Companies Inc. has closed a $3 million commercial real estate fund to develop an office property in Braintree, raising the amount from 25 investors.
Principals named in the filing for Braintree Executive Park LLC are:
· President Louis Grossman;
· David Grossman, head of acquisitions and finance;
· Mark Dufton, managing director of Boston-based Dinosaur Capital Partners; and
· Scott Oran, managing director, Dinosaur.
The Grossman Companies, based in Quincy, bought Braintree Executive Park in Braintree, Mass., for $6.9 million, or $55 per square foot. It plans to create a Class A office park for South Shore tenants with a $1.5 million renovation and repositioning of the 125,641 square-foot landmark twin office buildings located off Route 3.
Formed in 1980, The Grossman Companies is a full-service commercial real estate investment, management and development firm that owns and manages a portfolio of about 2 million square feet, mostly in New England. Its subsidiary, Grossman Realty Group, handles leasing. The firm also has an affiliate, First Boston Capital Partners, which is a private bridge lender to local residential and commercial investors and developers.
Reg D filing: http://tinyurl.com/6hekk6u
Bio:
LOUIS J. GROSSMAN
PRESIDENT
Louis J. Grossman has been President and Treasurer of The Grossman Companies, Inc. since 1980, when he and his father, Morton, purchased the family real estate business and reformed the company under the new name. Under Louis' thoughtful guidance and leadership, The Grossman Companies has successfully developed and acquired a portfolio of over 40 commercial and residential properties, primarily located in New England.
Louis began his real estate career in 1976, when he joined Sonnenblick-Goldman Advisory Corporation in New York, serving as Mortgage Officer for two real estate investment trusts, North American Mortgage Investors and Mortgage Growth Investors. A graduate of Brown University with a B.A. in Economics, Louis earned his M.B.A. from Columbia University's School of Business.
Louis is active in numerous local and national civic and charitable organizations, including the Red Cross, Rivers School, Brown University, Roxbury Latin, Temple Beth Shalom, and Combined Jewish Philanthropies.
DAVID B. GROSSMAN
ACQUISITIONS / FINANCE
David B. Grossman, Louis' son, joined The Grossman Companies, Inc. in 2009 and is responsible for sourcing new acquisitions and asset management of The Grossman Companies' real estate management portfolio. In addition, David is responsible for the management and origination of new loans for the Grossman family's wholly-owned private lending affiliate, First Boston Capital Partners.
Prior to joining the Company, David served as Vice President of Acquisitions at Louis Dreyfus Property Group in New York, NY. Previous to that, he worked for five years at Wells Fargo's Real Estate Merchant Banking Group in Boston, Washington DC, and New York. David is a 2002 graduate of Brown University with a B.A. in Business Economics and Public and Private Sector Organizations.
David is a member of REFA, ULI, and NAIOP. In addition, David is active in a number of local charitable organizations, including Combined Jewish Philanthropies, The Roxbury Latin School, and Year Up, a non-profit organization based in Boston dedicated to closing the opportunity divide for urban young adults.
Bios from Dinosaur Capital Partners site:
Mark Dufton
617 422 6224
mdufton@dinosaurcap.com
Mr. Dufton is a Managing Director of Dinosaur Capital Partners. Until the formation of Dinosaur, he was a Principal and Managing Director of Gordon Brothers Group. Recent investments include the stock purchase of a supermarket chain, the acquisition of a portfolio of performing and non-performing retail real estate assets from GE Finance, the acquisition of a portfolio of national restaurant leases and the financing of the acquisition of a convenience store chain.
While at DJM Realty, a subsidiary of Gordon Brothers Group, Mr. Dufton managed over 35 clients, focusing primarily on bankruptcy services, lease mitigation, and restructuring programs. Prior to Gordon Brothers Group and DJM Realty, Mr. Dufton was Vice President of Real Estate and then the Chief Operating Officer for Jeepers!, Senior Manager of Real Estate Acquisitions, Dispositions and Leasing at Bank of America and Real Estate Transactions Manager at JP Morgan.
He also served five years in the US Army Corps of Engineers where he attained the rank of Captain.
Mr. Dufton earned his Bachelor's degree in Electrical Engineering from the United States Military Academy at West Point and an MBA from the University of Massachusetts at Lowell.
Scott Oran
617 422 6584
soran@dinosaurcap.com
Mr. Oran is a Managing Director of Dinosaur Capital Partners with 24 years of local and national real estate experience. Previously, Mr. Oran served as Executive Director of Morgan Stanley where he was responsible for its real estate investing activities in New England and the Mid-Atlantic United States. Earlier in his career, he was Partner and Regional Director of TA Associates Realty, Vice President of Fleet Bank in Boston where he managed an REO portfolio, and Director of Acquisitions for Unihab, a Cambridge-based real estate developer. He began his career at Booz, Allen & Hamilton, the management consulting firm. Mr. Oran received an MBA with distinction from Harvard Business School and graduated magna cum laude from Princeton University with a BSE in Civil Engineering (Engineering Management and Systems) and Urban Affairs (Woodrow Wilson School of Public and International Affairs).
He has taught "Fundamentals of Real Estate Portfolio Management" at the MIT Center for Real Estate's Professional Development Institute.
He is a member of the Board of MI Developments, a NYSE-listed real estate company, the Massachusetts Chapter of NAIOP (the Massachusetts Forum for Commercial Real Estate), the Commonwealth Shakespeare Company and Chair of the Board of the Edward W. Brooke Charter School, a high performing charter school in Boston, MA.
In Newton, MA, he has served on the Mayor's Mixed Use Task Force, was Co-Chair of the Finance Transition Committee for Mayor Setti Warren and served on the Citizen Advisory Group.
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