DLA Piper advised the Massachusetts Development Finance Agency (MassDevelopment) in connection with General Electric’s plan to relocate its corporate headquarters to Boston.
The firm represented MassDevelopment on the acquisition, leasing and financing of two vacant warehouses and approximately 2.5 acres of surrounding land for GE in the South Boston Seaport from the Gillette Company. MassDevelopment, which will lease the property to GE, will also fund rehabilitation of the warehouses and improvements to the surrounding land.
Citizens Bank helped finance the transaction with a $90 million loan to MassDevelopment, the state’s economic development and finance authority.
The DLA Piper team representing MassDevelopment included partners Richard Rudman, Bryan C. Connolly and Robert O'Connor Jr., (all of Boston) and associates Eric William Skeffington (Boston) and Bradley Phipps (Philadelphia).
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