The project repurposes an office building into a hotel with amenities such as a restaurant, bar, skybridge and fitness room. “This deal is a textbook example of converting excess office space into alternative use,” said one broker.
This year's notable deals include the acquisition of Belfast's Front Street Shipyard by a Blackstone-backed marina operator, and hammond Lumber's purchase of Ware-Butler.
The Institute for Family-Owned Business recognized seven Maine companies at its 25th annual awards ceremony, held Oct. 8 at Thompson’s Point in Portland.
The dividend amount was calculated based on MEMIC’s financial performance, claims experience and the collective success of policyholders in maintaining safe workplaces during the 2022 calendar year.
The deal, subject to regulatory review and expected to be completed in January, will make MEMIC one of the country's largest multi-state workers' compensation specialists with a strong foothold in the Midwest.
The Institute for Family-Owned Business said it received more 505 nominations this year, which it whittled down to 44 semifinalists before picking 25 finalists.
Portland-based MEMIC Group approved an $18.7 million dividend distribution to as many as 17,000 eligible policyholders who obtain their workers’ compensation insurance from the company.
Letters mailed to more than 20,000 students accepted to one of Maine's public universities were signed by employers including WEX, MEMIC and MaineHealth.