Real Estate Central

WINOOSKI, Vt., July 1 /PRNewswire/ — For the first time in over 25
years, the historic Champlain Mill, located on the banks of the Winooski
River in downtown Winooski, Vermont has changed hands. HallKeen, a real
estate management and investment firm from Norwood, Massachusetts and The
Braverman Company, a Vermont-based real estate development firm, with
support from the New Boston Fund of Boston, Massachusetts, completed the
purchase of the Champlain Mill on Friday, June 27, 2008.

Andrew Burnes, president of HallKeen says, “The Champlain Mill is the
crown jewel of the Winooski Falls (http://www.winooskifalls.com ) development. Its
importance to the overall revitalization of the neighborhood is paramount.
We are looking forward to bringing an exciting mix of commercial and
specialty retail tenants back to the Mill in the near future.”

Ken Braverman, principal of the Braverman Company, says, “Our vision
for the Champlain Mill is to leverage its ideal central location and
generous loft, commercial and retail spaces to serve Chittenden County’s
emerging technology businesses and creative economy. We hope to attract
growing companies and retail tenants seeking to locate in a walkable
downtown neighborhood.”

The Champlain Mill is the historic cornerstone of Winooski Falls, a
downtown re-development project that won the EPA’s Small Community Smart
Growth Achievement Award in 2006. The retail and commercial space at the
Champlain Mill complements new residential construction that includes
university housing at Spinner Place, mixed income rental apartments at
Keen’s Crossing (http://www.keenscrossing.com ), and The Cascades,
(http://www.cascadesvt.com ) a luxury riverfront condominium community.

About the Champlain Mill:

Built in 1910 and powered by the Winooski River in northern Vermont,
the Champlain Mill produced fine worsted wool products until 1954. After
the demise of textile milling in the Northeast, the building served as a
warehouse until it was restored as boutique retail and commercial office
space in 1981.

About HallKeen:

HallKeen’s current real estate portfolio includes over 4,750 units of
multi-family residential housing, 258 units of assisted living residences,
and approximately 1.5 million square feet of commercial space. HallKeen has
a strong presence throughout New England. (http://www.hallkeen.com )

About the Braverman Company:

The Braverman Company is a Vermont-based real estate development firm
specializing in smart growth solutions and downtown revitalization through
forward-thinking, innovative mixed-use infill development. Ken Braverman,
Principal, is HallKeen’s Vermont partner.

About New Boston:

New Boston is a vertically integrated real estate investment management
firm based in Boston, MA with subsidiaries specializing in development and
property management investment opportunities in the Eastern United States.
(http://www.newbostonfund.com )

See Also:

• Sun Communities Declares Second Quarter 2008 Dividend
• Maine Affordable Housing Gets $4.1 Million Boost
• Vermont Affordable Housing Gets $1.3 Million Boost
• Monmouth Real Estate Investment Corporation Declares Common and Preferred Dividends
• Conrad Black Announces Civil Settlement with Sotheby’s

[Via Real Estate Newswire]