Construction Begins on Meriel Marina Bay in Quincy, MA

(BOSTON) – Hines, the international real estate firm, and investment partner MetLife, held a groundbreaking ceremony today celebrating the start of construction on Meriel Marina Bay, a new multifamily complex in Quincy, MA.

Meriel Marina Bay will be situated on 5.83 acres of waterfront and will consist of two four-story apartment buildings with a total of 352 market-rate units, approximately 20,000 square feet of retail space and 500 parking spaces.

The development represents Hines’ third for-rent residential project in the Boston area. Hines also has developed Currents on the Charles, a four-story multifamily development containing 200 units in Waltham, MA; and Fuse a six-story multifamily development containing 244 units in Cambridge, MA. This brings the firm’s multifamily portfolio in Boston to over 795 units.

For MetLife, the development represents the company’s fifth for-rent residential project in the Boston area that includes Lenox Farms in Braintree, Charles River Landing in Needham, Lodge at Foxborough in Foxborough and Lodge at Ames Pond in Tewkesbury. Meriel Marina Bay brings MetLife’s multifamily portfolio in Boston to more than 1,650 units.

“We are excited about breaking ground on this development, which sits on the last piece of undeveloped waterfront property at Marina Bay. Hines is pleased to be able to respond to the significant demand for new, high-quality luxury housing in the Quincy area, and we are committed to delivering a superior product with Meriel Marina Bay,” stated Hines Senior Managing Director David Perry.

The project will include a significant expansion of the boardwalk, as well as retail and dining offerings at Marina Bay. A waterfront pedestrian connection between the boardwalk and Squantum Point Park will also be created. The project will expand the shuttle service to the nearby North Quincy MBTA station and will have views across Dorchester Bay to downtown Boston, the Back Bay and the Seaport District.

Hines expects occupancy of the first units in spring of 2017.

In January 2011, Hines formed its Multifamily Division, with a focus to expand the firm’s multifamily development activity throughout the U.S. by working with Hines’ domestic regions on for-rent residential programs. Currently, the Multifamily Division has more than 7,000 units in projects in various stages of development. In addition to the Boston area, the company has other multifamily projects that are located in several U.S. cities including: Chicago; Denver; Houston; Miami; Minneapolis; Pasadena, CA; Phoenix; Rockville, MD; and St. Petersburg, FL.

About MetLife, Inc.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countriesand holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

About Hines
Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

From left to right:  Howard Elkus, Elkus Manfredi; Hines Managing Director Jim Dunlop; MetLife Director Don Svoboda; Hines Senior Managing Director David Perry; Chairman of the Quincy Planning Board William Geary; Massachusetts State Representative Bruce J. Ayers; Massachusetts State Senator John F. Keenan; Quincy Mayor Tom Koch
Caption From left to right: Howard Elkus, Elkus Manfredi; Hines Managing Director Jim Dunlop; MetLife Director Don Svoboda; Hines Senior Managing Director David Perry; Chairman of the Quincy Planning Board William Geary; Massachusetts State Representative Bruce J. Ayers; Massachusetts State Senator John F. Keenan; Quincy Mayor Tom Koch

Contact Hines

Headquarters

Global Headquarters

2800 Post Oak Blvd.
Houston, TX 77056-6188
United States
713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
312 419 4900

U.S. Southeast Region

5 Ravinia Dr NE
Atlanta, GA 30346
United States
770 206 5300
770 206 5325 fax

U.S. Southwest Region

609 Main St.
Suite 2400
Houston, TX 77002
United States
713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111-5894
United States
415 982 6200
415 398 1442 fax

Asia Pacific Region

1 Connaught Road, 28F
Central, Hong Kong

Eurasia Region

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax

International Offices

Australia

20 Hunter St
Level 10
Sydney, NSW 2000
Australia
61 2 9232 3137

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
São Paulo 04578-910
Brazil
55 11 5504 7600

Canada

200 King Street West
Suite 1805
Toronto, ON M5H 3T4
Canada
416 595 1949

China

Suite 333, Hyundai Motor Tower
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855
8610 8453 9866 fax

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80
33 1 41 45 80 81 fax

Germany

Hines Immobilien GmbH
Joachimsthaler Str. 1
D - 10623 Berlin
Germany
49 30 726241 100
49 30 726241 109 fax

Greece

Voukourestiou 19
Athens 106 71
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Block 2, First Floor
Clanwilliam House, Clanwilliam Place
Dublin 2
Ireland
353 1 7999900
353 1 7 999931 fax Dublin.OfficeAdmin@hines.com

Italy

Via Broletto, 35
Milan 20121
Italy
0039 02 8962921

Japan

Akasaka K Tower Level 4
1-2-7 Motoakasaka, Minato-ku
Tokyo 107-0051
Japan
81 90 9854 5236

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1
352 264 337 37 fax

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

The Netherlands

Weesperstraat 61
Amsterdam, NH 1018 VN
Netherlands
31 6 30 70 81 29

Nordic Countries

Nybrogade 12
Copenhagen 1203
Denmark
44 7815 285 191

Panama

Torre B Piso 15
Torre de las Americas
Punta Pacifica, Panama City
Panama
507 028 20 7375
507 300 99 75 fax

Poland

Prosta Street 68
Warsaw 00-838
Poland
48 22 351 2400
48 22 351 2401 fax

Russia

Gasheka Street 6
Ste. 820
Moscow 125047
Russia
7 495 785 05 00
7 495 785 05 10 fax

Spain

Sor Ángela de la Cruz, 2° - 2° C
Edificio Cuzco III
Madrid 28020
Spain
34 91 703 00 23
34 91 359 89 71 fax

South Korea

Glass Tower, Level 20
534 Teheran-ro, Gangnam-gu
Seoul 06181
Republic of Korea
82 2 3439 9141

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900
44 20 7292 1901 fax