The Boston Globe On Saturday ReportedÂ prolific Boston real estate developer The Beal Cos. has signed a partnership with New York's The Related Cos.Â to form a new entity called "Related Beal."
Terms of the transaction weren't disclosed, according to the Globe â€“ and neither was the exact nature of the partnership. The article by Casey Ross didn't use the words "merge," "merger," "buyout" or "acquisition."
Ross writes: "In many ways, the new partnership simply formalizes a longstanding relationship between the firms. Bealâ€™s son, Bruce BealÂ Jr., is president of Related Cos., where he has worked for 18 years. Previously, Related and Beal developed the Clarendon, a luxury residential tower in the Back Bay."
Other Related-Beal co-projects include the $1.6 billion redevelopment of Quincy Center and the $230 million refurbishment of Lovejoy Wharf near North Station in BostonT
Source: Boston Business JournalÂ
Mario Pavli Vice PresidentÂ Boston Luxury ResidentialÂ