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In the News

Leggat McCall Pays $17M for Cohasset Condo Complex

Boston Business Journal
May 17, 2005

Leggat McCall Properties LLC announced Tuesday it acquired a 105-unit luxury condominium complex in Cohasset from King Taylor Cohasset LLC for $17 million.

The affiliate of Boston-based King Street Properties and Cohasset-based Taylor Caldwell Developers sold the site to Leggat McCall after owning the property for two years. The seller was represented by CB Richard Ellis/Whittier Partners, who also found the buyer.

The property, called Cedarmere, was developed in 2003 on 41 acres of waterfront property. Twenty-five percent of the units are affordable and the complex is restricted to residents over 55 years old.

Boston-based Leggat McCall Properties currently has more than $600 million in assets under development, including One First Street, a 196-unit condominium development in Cambridge -- the largest residential development in the city in five years, according to Leggat.

Since 1978, Leggat McCall Properties has developed or acquired more than 7 million square feet, or $2 billion worth, of assets.

Cedarmere is the first joint venture between King Street Properties and Taylor Caldwell Developers.

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