Williamsburg-based Watermark Capital Group acquired a Class B office building at 175 Pearl St. for $66.5 million, planning to develop a 14-story, 240-unit residential complex without zoning change under the 467-M tax incentive.
Bridge City is providing a $50.6 million construction loan for the project, set to demolish the existing structure which housed tenants like Constangy, Brooks, Smith & Prophete and Thelab, to build the new development.
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