Boston, MA. Nixon Peabody represented Chicago-based investment firm L3 Capital in its recent $40 million purchase of a parking lot in the heart of Boston’s Back Bay.
The surface lot sits at the corner of Newbury and Dartmouth Streets in the neighborhood’s most iconic and posh shopping district. L3 Capital specializes in retail development.
“Almost anyone who has spent time in the area will recognize this piece of land, in part for the mural that used to frame one side of the lot,” said Ruth Silman, an affordable housing and real estate partner who also serves as Nixon Peabody’s Boston office managing partner.
In addition to Silman, the Nixon Peabody team working with L3 Capital includes Boston affordable housing and real estate partner Christopher Froeb, Chicago partner Kristopher Stark, and Boston affordable housing and real estate associate Christina Ricotta.