**Nuveen Sells 50% Stake in Dedham’s Legacy Place**
JLL’s Capital Markets group recently facilitated the recapitalization of Legacy Place, a 580,000-square-foot open-air, grocery-anchored lifestyle center in Dedham, Massachusetts. While financial details were not disclosed, the *Boston Business Journal* reported that the transaction values the property at approximately $350 million.
A JLL team, including Senior Managing Director Chris Angelone, Director Zach Nitsche, and Associate Hugh Doherty, represented the seller, Nuveen Real Estate. The buyer, Madison International Realty, LLC, has now joined WS Development in an existing partnership. WS Development has held a 50% ownership stake and managed Legacy Place since its opening in 2009.
“The sale of a 50% ownership stake at Legacy Place underscores the continued investor appetite for best-in-class retail assets in prime locations,” said Angelone. “The property’s strategic position in the Boston market and its dominant performance make it an excellent addition to Madison’s portfolio. It was a privilege to work on this transaction alongside WS Development.”
