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On The Dot Update 01/08/17

Ad Meloria and Core Investments expand Andrew Square development site

Developer Core Investments has acquired 2.75 acres of developable land along Dorchester Avenue and Alger Street in Andrew Square for $13.1 million. A building on that property has a tenant with a long-term lease. The acquired land is located adjacent to a 6.4-acre site, 511 Dorchester Avenue, that Core Investments and Ad Meloria acquired for $13.375 million in April 2014 and is a parcel away from a 4.5-acre parcel, 371-385 Dorchester Avenue, that Core Investments acquired for $16 million in July 2015. Ad Meloria and Core Investments intend to develop the parcels for commercial use. Core Investments has also closed on $26.19 million of new financing for the parcels through Delphi Financial Group of Wilmington, Delaware.

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