News & Insights
The Real Estate Cycle: Where We Are and What It Means
February 21, 2026 | Author: David J. Murphy The Four Phases Commercial real estate moves through four generally recognized phases: recovery, expansion, hypersupply, and recession. JPMorgan Chase provides a useful overview of this framework (jpmorgan.com). During recovery, occupancy improves from its low point, but new...
Commercial Real Estate Sentiment Steady in Q1 2026 as Debt Availability Improves
February 20, 2026 | Author: David J. Murphy The Real Estate Roundtable released its Q1 2026 Sentiment Index on February 20 (full report at rer.org). The overall index registered 66, down one point from the prior quarter. Senior CRE executives describe a market in the...
Preferred Equity Investment in a 188-Unit Multifamily Acquisition in Covington, Georgia
February 18, 2026-Murphy PC represented a Boston-based preferred equity investor who partnered with a sponsor in the acquisition of a 188-unit apartment community on 16.78 acres in Covington, Georgia. The transaction included the assignment and assumption of an existing Fannie Mae loan. Murphy PC negotiated...
Removal Events in Real Estate Joint Ventures: What Capital Partners Need to Know
January 6, 2026 | Author: David J. Murphy When a real estate joint venture goes wrong, the removal event provision determines whether the capital partner can act, and how quickly. These clauses define the triggers that allow an investor member to take management control away...
New England Commercial Real Estate at Year-End 2025: What the Data Says
December 28, 2025 | Author: David J. Murphy Late-2025 data reveal New England commercial real estate in the midst of a selective recovery. Higher borrowing costs continue to constrain development and transaction volume, yet leasing activity and fundamentals in key sectors are stabilizing rather than...
Murphy PC Advises Borrower in Refinancing of Lifestyle Shopping Center North of Boston
December 18, 2025-Murphy PC represented a borrower limited liability company in connection with the refinancing of a lifestyle center located North of Boston, Massachusetts. The borrower is an affiliate of a property owner and development company with substantial shopping plaza holdings in Massachusetts and California....
Murphy PC Advises Borrower in Financing of Mixed-Use Property Featuring Historic Restaurant and Luxury Residences
December 10, 2025-Murphy PC represented a borrower limited liability company in connection with the refinancing of a mixed-use property located in Nantucket, Massachusetts. The property, which includes a restaurant and luxury residences, is occupied by a master lease tenant whose subtenant operates a historic restaurant...
Murphy PC Advises Borrower in Commercial Property Refinancing in Nantucket, Massachusetts
December 10, 2025-Murphy PC represented a borrower limited liability company, an affiliate of a real estate investor managed by the investor’s family office, in connection with the refinancing of a commercial property located in Nantucket, Massachusetts. The retail property is leased to a national residential...
Why Capital Partners Need SPE Covenants in the Operating Agreement
November 28, 2025 | Author: David J. Murphy Special purpose entity covenants occupy an awkward place in real estate joint venture documentation. The covenants themselves typically appear in the loan documents, where they protect the lender’s interest in maintaining a bankruptcy-remote borrower. But the party...
Murphy PC Advises on Joint Venture Preferred Equity Investment in a 50-Unit New Construction Apartment Building Project
October 24, 2025-Murphy PC represented a Boston-based preferred equity investor who partnered with a sponsor in an acquisition of a permitted property in Somerville, Massachusetts to construct and lease a 50-unit apartment building. We negotiated and advised on the joint venture operating agreement for the...