MANAGEMENT · June’s RHA NextGen Mix & Mentor at Deco Apartments in Quincy We were given VIP...

Apartment BAYSTATE

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OFFICIAL MAGAZINE OF THE RENTAL HOUSING ASSOCIATION

management Are Multifamily Operators Slow To Connect ?

Apartment BAYSTATE

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FALL 2016

SMAR T C HT EMultifamily Operators Embracing New Technologies MANAGEMENTSMAR T C HT E

Multifamily Operators Embracing New Technologies MANAGEMENT

FALL 2016

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Bay State Apartment Owner3

Inside BSAO

BEST. WORK.DAY. EVER.

recap of NextGen events6

INCREASEDHOUSING COSTS

a double whammy for women8

TRAINING YOUR MEMORY

seven tips for sucess16

25MAINTENANCE

MANIAprofessionals get creative for a national competition

THE REAL

Reporter®PUBLISHED BY

18FROM WASHINGTONaffordability crises19 RANDOLPH APT. BUILDINGS TRADEDQ3 multifamily sales

11SMART TECHMANAGEMENTproperty managersconnect with residents

Fall2016


We were gratified to receive so many positive commentson the inaugural (Summer) issue of the digital Bay State Apartment Owner. Our thanks to our award winning partner,

The Real Reporter, for turning out a first class product, in both

content and design.

We hope you will take an active role in the future direction

of the magazine. We welcome suggested story lines,

introduction to subject matter experts, and comments on

what you like and what we can improve.

In order to continue to offer the Bay State Apartment Owner

as a no-cost member benefit, we hope you will consider

advertising if you are a vendor member. If you are an owner

or manager, please refer your suppliers to the magazine and

support those who are already advertisers. For advertising

information, contact [email protected].

I think you will find this issue to be both timely and thought

provoking. Our feature, written by veteran real estate reporter,

Mike Hoban, touches on Smart Technology and the changes

it is bringing to our industry. Paula Munger, NAA’s Director of

Research and Analysis pens a story titled” Increased Housing

Costs and Stagnant Incomes: A Double Whammy for Women”.

Bob Gray, a favorite speaker at the recent Fall Conference and

Exposition, offers up “Seven Tips for Building Trust by Training

your Memory”. Greg Brown, NAA’s Senior Vice President of

Government Affairs is back with a column from Washington,

D.C.

And there is more: the NextGen section, calendar, and photo

spread to name a few.

Thanks for reading and sharing the Bay State Apartment

Owner, we look forward to your feedback.

PRESIDENT’S MESSAGE

OUR NEW MEDIA SPECIESAND YOUR CONTRIBUTION

Sarah Mathewson Senior Vice President, Property Operations

for AvalonBay Communities and 2016 President of the Rental Housing Association

OUR NEW MEDIA SPECIESAND YOUR CONTRIBUTION

Credit is subject to approval. Rates and programs are subject to change; certain restrictions apply. ©2016 JPMorgan Chase & Co. All rights reserved. Chase is a marketing name for certain businesses of JPMorgan Chase & Co. and JPMorgan Chase Bank, N.A., Member FDIC. 193423

Don’t be left out of a great real estate opportunity because you aren’t ready to act. Your local Chase team can help you execute quickly on your next purchase or refi nance of a stabilized apartment building.

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Imagine a place where you can connect with like-minded individuals in your field; hear amazing experiences & tips from top keynote speakers; meet vendors face to face instead of through email; and win tons of prizes. Sounds like the best work day ever? Well it was!

At this year’s RHA Expo, we loved meeting all the new and familiar faces who

‘popped’ by our NextGen booth. Thank you to all of the new members! Our current

membership is now up to 125.

Recap of NextGen Events – Here’s What You May Have Missed!

June’s RHA NextGen Mix & Mentor at Deco Apartments in QuincyWe were given VIP tours of the community and heard from Cube3 Studio about the

design of the project.

August’s RHA NextGen Informal Gathering – Trivia at Sweet Caroline’s in BostonWe played Trivia with and against other NextGen members! Plenty of new faces

attended and enjoyed cocktails, appetizers and Stump Trivia.

October’s NAA’s Maintenance ManiaWe cheered on all of the property management professionals competing in

Maintenance Mania!

October’s RHA NextGen Mix & Mentor & First Look at MetroMark in Jamaica PlainWe were given sneak preview tours of this brand new community, then strolled on

over to Doyle’s Café to mingle with our peers.

BEST. WORK. DAY. EVER.

Courtney Mathiowitz 2016 NextGen Chairperson

Associate Director of Marketing at HallKeen Management

7 Bay State Apartment Owner

WANT TO HOST AN EVENT AT YOUR PROPERTY?

Gain PR buzz and interest while meeting new people.

Get in touch with NextGen to set it up.

Be sure not to miss out on any of our upcoming events!

Join us at future Paint-Nites, Mix & Mentor events, seminars,

and VIP tours.

3 Simple Tips to Network like a PRO

If the phrase Hi My Name Is sounds scary to you, here

are few points to keep you from a) accidentally giving a fake

name and b) make you feel comfortable to make the most out

of each networking opportunity.

1. Connect online prior to the event. Using LinkedIn will

help you put a face to a name. That vendor who you have

been emailing back and forth with for five months actually is a

real person!

2. Use the ‘Five W’s’ rule: Who, What, Where, When and

Why. Keep it simple! People love to talk about themselves, so

let them and see where the conversation can take you.

3. Follow-Up. Connect with them via social media, a short

email, or a note. You never know “Who, What, Where, When

and Why” you may need their services or advice in the future.

Happy Networking & Hope to See You Soon!

RHA NEXTGENMEMBER SPOTLIGHT

How did you get started

working in multifamily?

Like most, I fell into it. My

sister and her husband have

both excelled in the industry

since they graduated from

Holy Cross. I thought, “I’m a

Crusader too. Why not?” Three

years ago I found an ad for a

leasing position at CHR, the

company where my sister first

started. I screenshotted it to her asking if I should apply

(half-jokingly) and she told me she thought I would be

great for the position! I was hired as a Leasing Agent

at Hancock Village, where I now work as the Resident

Services Manager.

You recently won an Award from NAA; what was

the award and what was your reaction when you

heard you won?

Each year the NAA selects a leasing professional of the

year who they feel is an example of true excellence

within the industry. So naturally, when I received the

email, I thought it was SPAM! Winning the national

award and flying to San Fran to be recognized by the

industry and my peers was an unforgettable experience!

Who do you turn to when you need advice?

I have a fantastic support system made up of my parents,

siblings and boyfriend. Depending on the issue, I can

always rely on one or more of them to give me sound

advice.

If you could go to dinner with any celebrity, alive

or not, who would you choose?

Bear Grylls. He’s resourceful, spirited, and fearless.

First concert you went to?

Britney Spears in 2000.

Any hidden talents?

I can click my tongue against the roof of my mouth so

hard it sounds like opening a can of tennis balls. My aunt

taught me.

Tell us your favorite joke

It’s not easy being a self-made man. Unless you have an

Oedipus complex and a time machine.

Carla Katigbak Resident Services Manager

Chestnut Hill Realty


No one would deny that the lack of affordablehousing in the United States is a serious problem. Housing affordability is all over the headlines, as is the gender pay gap, but when you couple them together

with some basic demographic information, the stark

economic inequality for women becomes even more

evident.

Between 2009 and 2014, the U.S. Census Bureau

reports that more than a million unmarried female-headed

households were started in rental units, representing 25% of

all new renter family households over that time. The Census

defines “family” as at least one member of the household

who is related to the head of household by birth, marriage-

or adoption; “single” includes those never married, divorced,

separated or widowed. In 2014 (most recent data available),

nearly 70% of total female-headed rental units housed

children.

INCREASEDHOUSINGCOSTSStagnant Incomes:A Double Whammyfor Women By Paula Munger


The largest growing age cohort in this

demographic are in the 65-plus- category. These are

women who are caring for other family members,

including their grandchildren, some of whom must

rely on fixed incomes.

Looking further into income levels, an astounding

41% of all families that live below the poverty level

are headed by single females who rent; and 61% of

renter households living below the poverty line are

led by women.

When adjusted for inflation, both men’s and

women’s incomes have barely budged in recent

years, and have fallen since 2007. Although the

gender pay gap has narrowed over time, it has

recently leveled off, but there is still a long way to go.

In 2014, women made 78.6 cents to men’s $1.

If a woman is unmarried and has children

between the ages of 6 and 17, the pay gap widens

further.

While the rate of inflation (Consumer Price Index)

has been just about non-existent post-Recession,

when broken down into various components,

the increased costs are troubling. Since 2012, rent,

education- and healthcare costs are all rising faster than

the sum of all the components of the CPI; precisely how

these working mothers with 6-17 year-olds are spending

their hard-earned incomes. Triple whammy?

Paula Munger is Director, Industry Research & Analysis for the National Apartment Association


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ApartmentBAYSTATE

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SMAR T C HT EMultifamily Operators Embracing New Technologies MANAGEMENT

ApartmentBAYSTATE

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ApartmentBAYSTATE

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AS THE REST OF THE WORLD BECOMES INCREASINGLY CONNECTED,

MULTIFAMILY OPERATORS

ARE SLOWLY COMING TO THE

REALIZATION THAT BUILDING-

WIDE TECHNOLOGIES CAN BE A

HUGE BOON TO STREAMLINING

OPERATIONS FOR PROPERTY

MANAGERS, INCREASING NOI

AND ENHANCING THE WAY

THAT THEY CONNECT WITH

RESIDENTS.


“I’ve always been shocked by how far

technology has advanced for the medical,

financial, and other industries, but for some

reason, the real estate industry seems to

be struggling to keep up,” says Eli Stevens,

co-founder of Smart Housing, a property

management software platform designed

to simplify processes for operators. “I

mean, do you write checks for anything

else in your life except rent?”

Smart Housing and other technology

firms such as BuildingLink are bringing

the real estate and property management

industry into the 21st century, by

offering a suite of software products

designed to increase efficiency across all

phases of the business and to improve

communication with residents. Smart

Housing’s customizable products provide

property owners with the ability to create

search engine optimized websites; track

apartment marketing campaigns; process

rental applications online (including

comprehensive background and credit

checks); and process rent payments online

as well as the old fashioned way – with

checks or money orders. They also offer

accounting software that interfaces with

other third party systems, including

Quickbooks and Yardi.

“If you talk to 10 different property

managers about how they operate, you’ll

get 20 different answers,” says Stevens.

“So we’ve developed software that is

flexible and allows people to do whatever

it is that they’re going to do (including

payment by check) because we don’t want

you to have to bend to us. We bend to

you.”

BuildingLink, which is being utilized in

over 3,500 buildings worldwide (including

“several hundred” in the Greater Boston

market, according to VP of development

Christine Carroll), provides customizable

management tools that assist property

managers with day-to-day operations – all

accessible by a single dashboard. Their

software allows property managers to do

maintenance and work order processing

If you talk to 10 different property managers about how they operate, you’ll get 20 different answersEli Stevens, co-founder of Smart Housing


online; track resident packages and keys; maintain

multiple permission-to-enter unit instructions;

keep detailed resident profiles; store and manage

parking and vehicle data; and a host of other

functions. BuildingLink also provides a highly

efficient communications system that enables

building management to quickly disseminate

information to residents through a number of

channels, including email, texts – and for the

technology deficient – paper or in-person

notifications.

“Being able to communicate with a lot of

people at one time is really important,” says Kelli

Ahearn-Lucas, a former property manager at

the 244-luxury unit 50 W. Broadway in South

Boston, before taking the reins at the under-

construction MetroMark in Jamaica Plain (also

owned by Corcoran Management). “The days of

printing out a thousand memos (for snow removal,

maintenance emergencies, etc.) was something

I was very familiar with when I first started. If you

had a building with 600 apartments, it would take

a half a day to print out and distribute memos –

and it wasn’t very ‘green’,” recalls Ahearn.

She also cites the use of electronic key fobs

in place of hard keys (because of the ease of

replacement and the digital record kept of who

enters the apartment) and the introduction of the

video monitor intercom (for residents or staff to

screen those seeking building access) as recent

impactful technological changes in property

management. “The advancements in technology

have really helped us out security-wise, comfort-

wise and convenience-wise,” she affirms.

Jessica Buonopane, VP of residential

properties for National

Development, whose

luxury properties

include Ink Block in

the South End, says her

firm also incorporates

a number of new

technologies into their

residential properties,

including BuildingLink.

In addition to the

property management and communication

functions the system offers, National Development

has also set up a forum of electronic “community

bulletin boards” at their buildings. “It gives residents

the opportunity to create a social network, where

they can post events and classifieds – such as

when they’re selling a piece of furniture or looking

for a dog walker. It creates a little community

within the electronic space for residents.”

BuildingLink’s Carroll says that luxury

multifamily has been moving towards the

hospitality model in recent years, and residents

now want to be treated “like they’re living in a

hotel. So staff are trained in hospitality and are

Union Wharf, Boston MA

JESSICA BUONOPANE


serving those needs. That’s why we have a

massive communication tool and a database,

where we can track anything – right down to the

resident’s birthday. It really frees up the staff so

that they can tend to other things.”

National Development also employs a

revenue enhancing technology, Yield Star, to

help determine pricing for their available units.

Similar to the hotel/airline model, Yield Star looks

at the demand in the market and availability

in the user’s building to establish pricing,

and “it gives us a lot more flexibility to

increase revenue (per unit), but also gives

more options to the (potential renter),” says

Buonopane.

Like most apartment complexes

surveyed, National Development utilizes

apartment search engines such as

Apartment Guide and Apartments.com, but

Buonopane says social media (Facebook,

Twitter and Instagram) also plays a large

role in their rental marketing strategy, “because

it enables prospects to find out what’s it’s like to

actually live at our properties. We’ve really put a

big emphasis on branding ourselves socially,” she

conveys.

At Fuse, the Cambridge luxury apartment

community that opened in November of 2015,

property manager Nathan Lopez of Bozzuto

Management says one of the most significant

Having Package Concierge allows us to not necessarily need a concierge . . .Georgianna Oliver, founder and CEO of Package Concierge


technological improvements in recent years has been the

ability to do electronic signatures on all leasing paperwork.

“It’s been a godsend, because not only do we have the ability

to send digital leases, but we have the ability for people to

lease apartments without having to worry about being here

on a specific day just to sign paperwork.”

Fuse uses Blue Moon software for leasing documents, and

also employs Pay Lease software to manage utility payments

and to enable residents to pay their rent online. Lopez is

also a proponent of BuildingLink, as well as Transit Screen,

which – via a large screen in the lobby – allows residents to

see their transportation options live and in real-time, from

tracking where the closest Uber and Zipcars are, to when the

next bus or train is coming (Fuse is 300 yards from Alewife

Station).

Lopez, Ahearn and Buonopane are also bullish on a fairly

new product, Package Concierge, which allows services

like Amazon, DHL, LaserShip, UPS and FedEx to deliver

packages without the assistance of an apartment building’s

management. “There is a growing need for automated

package handling because people are ordering more and

more online – and it’s growing by 10 percent each year

– so (front desks) are just inundated with packages” says

Georgianna Oliver, founder and CEO of Package Concierge.

The company installs a wall of various sized “lockers”

(typically in the lobby area) at a property, where delivery

personnel can dial an access code, leave the package and

automatically alert the resident of its arrival via text. The

resident can then retrieve the package at their convenience

by holding up their phone to a bar code scanner. All locker

transactions are recorded with a camera installed above the

scanner for security purposes. And Package Concierge has

recently introduced a system where residents can now leave

their return packages (30 percent of all online purchases are

returned, according to the Wall Street Journal) for pickup.

“Having Package Concierge allows us to not necessarily

need a concierge, because it allows people to just come and

get (the package deliveries) at their leisure,” says Lopez, who

estimates that the service saves desk personnel “at least an

hour-and-a-half per day”. Bozzuto, National Development

and Corcoran Management are installing the system in their

new buildings and also retrofitting the older properties with

the service.

“Being able to offer these various technologies is

an amenity in itself,” says Ahearn. “Everything has to be

accessible for people. They want everything on their phone,

and they want to be notified in real time. That’s just how life

is now.”

www.masshousingrental.com

Why look to MassHousing?MassHousing provides a number of products to finance

the construction of affordable rental housing.

Our expert staff can tailor a financing package to meet your

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affordable and mixed-income housing, subsidies from our

Workforce Housing Fund or bridge loans to access tax

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Look to MassHousing to make your vision for affordable or

mixed-income rental housing a successful reality.

7Bay State Apartment Owner16

SEVEN TIPS FOR

Building Trust byTraining Your Memory

BY BOB GRAY

In 1597, Sir Francis Bacon wrote, “for

also knowledge itself is power,” more

commonly paraphrased today as

“knowledge is power.”

Bacon’s words ring true today, over

500 years after they were written. But

today, knowledge without application

is merely random knowledge without

a purpose. Knowledge coupled with

application, is powerful stuff indeed.

You have an untapped memory with

the ability to retain far more knowledge

than you ever imagined. And training

your memory enhances your power and

success – professionally and personally.

Most people

agree that a

trained memory

can make us

more successful.

But knowing

this fact renders

you no power…

unless you act on that knowledge. If

you apply yourself to learning memory

systems, the mental power you attain

has an enduring effect in your career

and will spill over into all areas of your

life. Whether you are a property owner

or manager wishing to remember the

names of your residents, a vendor/

supplier wishing to remember key points

of a presentation, or simply where you

parked your car or placed your glasses,

(often on top of your head…..the glasses

that is)

I believe business is built on trust,

credibility and relationships. If your

product or service is good and your

ethics are in alignment, your success

then rests upon how you make people

feel each and every time you interact

with them.

So what can you do to gain trust and

build solid relationships? Remembering

names is first on the list.

No matter where you are in your

career, your brain can create new

connections and associations. With

consistent practice, you can strengthen

your memory just as you would

strengthen your muscles with weights.

For over 25 years, Bob Gray has

amazed, entertained, and educated

audiences across six continents, with

his memory demonstrations, keynote

presentations, and sales-oriented,

self-improvement workshops. His

abilities have netted him a place in the

Guinness Book of World Records and

TV appearances on Ripley’s Believe It

Or Not, The ABC Today Show and The

Steve Harvey Show. Bob’s techniques

provide his audiences with keys to

unlock memory potential to work more

efficiently, effectively, and profitably.

He is a Certified Speaking

Professional; the highest earned

designation in the speaking profession

and in 2006 was inducted into the

Canadian Speaking Hall of Fame.

www.memoryedge.com

THE FOLLOWING SEVEN TIPS will help you train your memory to remember names. Try them at your next networking event.

1Ensure you hear the name. It

helps if you repeat it back.

2Spell the name in your head.

This helps make it stick, and ensures that you have

actually heard it.

3If it’s an unusual name, make

a comment. Ask about its background or spelling.

4Use the name a couple of times

during your conversation.Don’t go overboard.

5Use the name when leaving.

6If you’ve ever said,

“I have a terrible memory for names,” stop it now.

Begin to tell yourself you have a great memory for names.

7As soon as possible after meeting someone, enter

the name into an app (I have recently developed one

specifically for remembering names).

Photo Location: Three Forks RanchCalifornia loans will be made pursuant to a Finance Lenders Law License from the Department of Business Oversight.

Commercial Real Estate Finance

POWERING YOUR PROSPERITY

Henry NevinsMichael SchellCasey BrennanNALS Apartment HomesAvid AnglersWalker & Dunlop borrower since 2012

Andrew Gnazzo | 781.707.9354 | www.walkerdunlop.com

Apartment Industry Advocates, last month the Obama Administration weighed in on one of the seminal issues

impacting local communities and one with

which our industry finds itself struggling

again – housing affordability. What might

surprise you is that the message from the

White House was not directed at property

owners. The Housing Development Toolkit

(available on the whitehouse.gov website) opens with this:

Over the past three decades, local barriers to housing development have intensified ...The accumulation of such barriers – including zoning, other land use regulations, and lengthy development approval processes – has reduced the ability of many housing markets to respond to growing demand.

The toolkit discusses in specific detail the costs that these

barriers impose on local households, the economies and even the

environment as well as their role in exacerbating gentrification

and income inequality. This is a welcome message from the

Administration.

As many of you are experiencing firsthand, the issue of housing

affordability increasingly dominates local news and policymaker

debates. Beyond the statistics, low- and moderate-income families

struggle to find housing that meets their needs at a price they can

afford. This is an issue in the usual suspect markets on the coasts,

but also in places like Austin, Texas, Nashville, Tenn., and Colorado

Springs, Colo.

While this current crisis is not breaking news, the scale and

scope of the problem seem greater than in previous cycles as does

the intensity of the advocacy efforts by tenant-rights’ organizations.

Last month a few NAA affiliate offices and events were picketed by

protesters and in one case, an Association Executive was personally

the target of an advocacy campaign. The White House efforts could

not come at a better time.

What many advocates seem unwilling to acknowledge is that

the seeds for our current crisis were sown long ago in local land

development and use policies. As the Housing Development Toolkit

notes, when the recovery from the 2008 recession began, many

communities were not positioned to take advantage:

In a growing number of metropolitan areas, the returning health of the housing market and vibrant job growth haven’t led to resurgent construction industries and expanding housing options for working families, due to state and local rules inhibiting new housing development that have proliferated in recent decades.

There is also of course the added complicating factor of stagnant

wages. No- or low-wage growth is hard enough in markets where

demand is “normal.” It is downright dangerous in the growing list of

markets where exorbitant development costs and red-hot demand

accelerate rent increases.

The toolkit goes on to describe a number of excellent

policy options available to local governments to streamline the

development process and increase apartment housing supply. Nearly

all are positioned as incentives to development and even mandatory

inclusionary zoning is described in both mandatory and voluntary

terms but the toolkit’s recommendation tilts more towards voluntary

incentive for IZ like density bonuses or streamlined approval

processes. Rent control is not on the list of policy recommendations.

While not on the list of policy recommendations, the toolkit does

make a case of sorts for source-of-income protection for Section

8 voucher holders, characterizing a property owner’s choice not

to participate in the Section 8 program as “discrimination.” We will

continue to respectfully disagree with the Administration on this

and stand in support of the freedom of a private owner to take on

the responsibilities, and burdens, that come with accepting Section

8 vouchers. NAA has been a vocal, aggressive champion of this

program for decades, including its voluntary nature.

Also missing from the toolkit is a strategy for fighting NIMBYism

(Not in My Back Yard) that pervades in so many jurisdictions.

Truth-be-told, many of the hurdles put in the place of apartment

development were put there by NIMBYists who would sacrifice

anything to prevent more supply of apartments. More and more

local governments, with help from private sector employers, non-

profit organizations and others, are standing up to these forces.

Those efforts must be replicated around the nation if we are ever to

make a dent in this affordability challenge.

Nothing in the toolkit is earth-shattering, however, the focus

and emphasis it places on local governments and their central role

in the affordability crisis are extremely important. Our hope is that

local governments listen and future Administrations make the same

commitment.

Make sure to mark your calendars for the 2017 NAA Capitol

Conference and Lobby Day on March 7–8. Our goal is to create

another record-breaking event, bringing in more advocates to reach

all 535 members of Congress. Registration opens in early November.

Greg Brown is Senior Vice President, Government Affairs, for the National Apartment Association.

Washington Update October 2016

White House Toolkit Points to Local Barriers to Affordability Crisis



Q3/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation

BUYER: Congress Street Residences LP, managed by the North Shore Community Development Coalition Inc.

SELLER: Congress & Dow LLC, mgd. by Mickey NorthcuttPRICE/ADD: $3,300,000; 105-109 Congress St. and 52-60 Dow St., SalemNOTES: Multifamily properties; 105-109 Congress St. constructed 1920; building size is 11,200 sf, lot size is 10,850 sf; eight units; last sold for $1,312,000 in

Dec. 2014; 52-60 Dow St. constructed 1920; building size is 23,700 sf, lot size is

15,675 sf; 20 units

BUYER: Congress Street Residences LP, mgd. by the North Shore Community Development Coalition Inc.

SELLER: Congress & Ward LLC, mgd. by Mickey NorthcuttPRICE/ADD: $2,907,000; 61 Congress St., 71 Palmer St., 32 Perkins St., 6 and 40 Ward St., Salem

MTG: $180,755 from North Shore Community Development Coalition Inc.NOTES: Multifamily properties; 61 Congress St. constructed 1915; building size is 5,425 sf, lot size is 2,625 sf; six units; last sold for $520,000 in Dec. 2014; 71

Palmer St. constructed 1915; building size is 8,750 sf, lot size is 2,775 sf; eight

units; last sold for $880,000 in Dec. 2014; 32 Perkins St. constructed 1915;

building size is 6,650 sf, lot size is 3,925 sf; six units; last sold for $540,000

in Dec. 2014; 6 Ward St. constructed 1914; building size is 3,000 sf, lot size is

1,300 sf; three units; last sold for $315,000 in Dec. 2014; 40 Ward St. construct-

ed 1920; building size is 6,375 sf, lot size is 3,475 sf; seven units; last sold for

$650,000 in Dec. 2014

MTG: $2,000,000 from Avidia BankADD: 23, U-6; 26, U-7; 28, U-8; 32,U-9; 34,U-10 Balsam Dr.; and 29,U-31, 31, U-32, 30, U-33, 32, U-34, 33, U-35, 34, U-37, 35, U-36, 36, U-38, 38, U-39, 40, U-40,

42, U-41, 44, U-42, 46, U-43, 48, U-44, 52, U-45, 54, U-46, 56, U-47, 58, U-48, 60,

U-49, 62, U-50, 64, U-51, and 66, U-52 Mahogany Run ., Leominster

BWR: Margot Xarras, trustee of Mahogany Run Realty TR

BUYER: Washington-Somerville Realty LLC, managed by Philip J. PriviteraSELLER: Ray Mitrano aka Erasmus Mitrano, trustee of JAMJ Realty TRPRICE/ADD: $2,300,000; 190 Washington St., SomervilleMTG: $1,610,000 from East Boston Savings BankNOTES: Mixed-use property, constructed 1920; building size is 6,100 sf, lot size is 4,350 sf; seller’s family ownership in property dates to April 1930

BUYER: 147 Milk LLC, managed by Bentall Kennedy and Multi-Employer Properties TrustSELLER: Lexington MLP Boston LP, managed by Lexington Realty TRPRICE/ADD: $33,250,000; 147 Milk St., BostonNOTES: Office property, constructed 1920, renovated 1993; building size is 51,350 sf, lot size is 5,400 sf; last sold for $20,000,000 in March 2007

BUYER: 4 Liberty MA LLC, c/o Atlas Real Estate Partners, managed by Arvind Chary and Alex Foster

SELLER: 4 Liberty Square LLC, c/o Abramson Brothers, managed by Alan B. AbramsonPRICE/ADD: $12,250,000; 4 Liberty Sq., BostonNOTES: Mixed-use property, constructed 1899: building size is 26,000 sf, lot size is 3,800 sf; sellers acquired property for $8,800,000 in Aug. 2014

BUYER: Safe Journeys LLC, managed by Mark DeanSELLER: 277-283 Western Ave LLC, managed by 277-283 Western Ave TR, managed by Paul Cammarata

PRICE/ADD: $2,385,000; 277-285 Western Ave., CambridgeNOTES: Mixed-use property, constructed 1928; building size is 5,325 sf, lot size is 2,900 sf; multifamily and retail; last sold for $330,000 in Aug. 2010

BUYER: Westwood Glen Commons LLC, c/o True North Capital Partners, mgd. by Jeff Bruce and Mat Glauninger

SELLER: GR-Westwood Glen LP, managed by Equity ResidentialPRICE/ADD: $34,400,000; 21 Westwood Glen Rd., WestwoodMTG: $31,970,000 from East Boston Savings BankNOTES: Multifamily property, constructed 1972; building size is 127,600 sf in seven buildings, lot size is 13.5 acres; 156 units; seller acquired property in Nov. 1998 as

part of portfolio purchase

BUYER: Nonantum Properties LLC, managed by Troy Lawrence RandallSELLER: Jean Ann RidinoPRICE/ADD: $1,825,000; 10-12 Chase St., NewtonMTG: $1,350,000 from The Village BankNOTES: Multifamily property, const. 1890; building size is 4,425 sf, lot size is 12,525 sf; five unnits; seller’s family ownership in property dates to Nov. 1969

MTG: $27,000,000 from East Boston Savings BankADD: 2 Rehabilitation Way, WoburnBWR: Woburn IRF Investment Group Inc., Michael L. McHargue

BUYER: GM Highland House LLC, managed by Mordechai SternsteinSELLER: Home Properties Highland House LLC, managed by Home PropertiesPRICE/ADD: $27,965,000; 9-49 Highland Ave., RandolphMTG: $22,520,000 from Capital One Multifamily Finance LLC

Multifamily REIT Home Properties has traded a pair of apartment buildings in Randolph, the larger being 100 Liberty St. where 120 units are situated in a 13-building complex on 11.9 acres. GM Liberty Place LLC, managed by Morde-chai Sternstein, paid $19,210,000 for that complex which came on line in 1989while GM Capital One Multifamily Finance LLC loaned the buyers $15,456,000 to faciliate that purchase. Capital One loaned another $22,520,000 to GM Highland House LLC, also managed by Sternstein, for 9-49 Highland Ave. (pictured), whichis a project built in the mid-1960s totaling 172 apartments. Home Properties hadowned that asset since paying $24,050,956 10 years ago this month, the samedate 100 Liberty St. was secured for $20,983,166.


NOTES: Multifamily properties, constructed 1966 to 1967; 172 units total; 9-11 Highland Ave. building size is 38,175 sf, lot size is 1.3 acres; 37 units; 43 Highland

Ave. building size is 28,450 sf

BUYER: Broadway Somerville Apartments LLC, c/o True North Capital Partners, managed by Jeffrey Bruce and Matthew Glauninger

SELLER: PMD Group LLC, managed by Michael R. Dupuis and Peter A. DupuisPRICE/ADD: $19,715,000; 10-12 Bond St., and 379-385 Broadway, SomervilleMTG: $17,510,000 from Brookline Bank

BUYER: Bow Somerville Apartments LLC, managed by True North Capital PartnersSELLER: 39-49 Bow Street LLC, managed by Peter A. Dupuis, Jr.PRICE/ADD: $4,555,000; 39-49 Bow St., SomervilleMTG: $17,510,000 from Brookline BankNOTES: Multifamily property, constructed 1910; building size is 10,925 sf, lot size is 10,975 sf; 18 units; last sold for $950,000 in Oct. 2004

MTG: $3,660,000 from Beverly BankADD: 87 Baker St. and 8, 12, 14, 25 & 29 Chase St., LynnBWR: Chase Apartments LLC, mgd. by Andreas Tsitos

MTG: $3,300,000 from Martha’s Vineyard SBADD: 277 North Rd., ChilmarkBWR: You Dirty Rat LLC, managed by Sean P. Gildea

BUYER: Beacon Somerville Apartments LLC, mgd. by Jeff Bruce and Mathew GlauningerSELLER: 8-10-12 Beacon Terrace LLC, managed by Peter A. Dupuis, Jr.PRICE/ADD: $2,480,000; 8-10-12 Beacon Ter., SomervilleMTG: $2,262,500 from Melrose Cooperative BankNOTES: Trio of multifamily properties; 8 Beacon Ter. a two-family property, const. 1890; building size is 2,150 sf, lot size is 3,050 sf; 10 Beacon Ter. building size is

34,075 sf, lot size is 4,350 sf; three units; 12 Beacon Ter. a two-family property,

constructed 1910; building size is 1,675 sf; last sold for $950,000 in Oct. 2004

BUYER: Carter Street Investment LLC, mgd. by Rick CostaSELLER: C.F.T. Enterprises Inc., mgd. by James Follis, president; Gloria Follis, treasurerPRICE/ADD: $655,000; 174-176 Chestnut St., ChelseaMTG: $1,000,000 from New Boston Capital Corp.NOTES: Multifamily property, constructed 1900; building size is 8,675 sf, lot size is 4,350 sf: six units; sellers’ ownership in property dates to Jan. 1969

BUYER: GM Liberty Place LLC, managed by Mordechai SternsteinSELLER: Home Properties Liberty Place LLC, mgd. by Home Properties LP, Rochester NYPRICE/ADD: $19,210,000; 100 Liberty St., Randolph MTG: $15,456,000 from Capital One Multifamily Finance LLCNOTES: Multifamily property, const. 1989; building size is 114,175 sf in 13 buildings, lot size is 11.9 acres; 120 units; last sold for $20,983,166 in June 2006

BUYER: Lacourt Enterprises LLC, managed by Mouhab Rizkallah SELLER: KP Fremont LLC, managed by Adam KonciusPRICE/ADD: $1,400,000; 20-24 Fremont St., SomervilleMTG: $1,004,500 from First Republic Bank

NOTES: Multifamily property, constructed 1910; building size is 4,425 sf, lot size is 6,100 sf; seven units; last sold for $780,000 in Sept. 2006BUYER: Walnut Hill Homes LLC, mgd. by Lance LaFave

SELLER: Pinnacle Capital Group LLC, managed by Philip J. LosurdoPRICE/ADD: $1,200,000; 35 Florence St., NatickMTG: $900,000 from The Village BankNOTES: Multifamily property; building size is 4,625 sf, lot size is 20,475 sf; six units; last sold for $672,000 in Feb. 2004

BUYER: Sycamore Gardens LLC, mgd. by Philip PriviteraSELLER: 112 Sycamore Street LLC, mgd. by Mei XuePRICE/ADD: $2,750,000; 112-116 Sycamore St., Units 112-3, 112-7, 112-10, 116-14, 116-16, 116-19, 116-23, 116-24, 116-27 and 116-31, Somerville

MTG: $2,200,000 from Leader BankNOTES: Ten units in the Sycamore Street Condominium, all units one bedroom, one bath; unit sizes range from 448 to 685 sf each; total sf of 6,025 sf; units last sold for

$1,850,000 in June 2013

MTG: $24,315,000 from Capital One Multifamily Finance LLCADD: 1 Symmes Rd., ArlingtonBWR: Brightview Arlington LLC, mgd. by William Camp

BUYER: CH Realty VII/MF Boston Coppermill LLC, mgd. by Crow Family Holdings, DallasSELLER: Fairfield Indian Woods LLC, managed by Fairfield ResidentialPRICE/ADD: $30,950,000; 3101 Stagecoach Rd., aka 30 Stagecoach Rd., StoughtonNOTES: Multifamily property, const. 2010: building size totals 154,200 sf in four buildings, lot size is 8.7 acres; 154 units; last sold for $27,500,000 in Dec. 2012


An eight-unit multifamily property at 28-30 Bay State Rd. in Quincy has new own-ership for the first time in more than a half-century as 30 Bay State Road LLC pays an even $1,000,000 for the building which was constructed in 1950. The buyer borrowed $800,000 from South Shore Bank to finance purchase of the 5,075-sf building located on a 9,825 sf parcel. The family of seller David M. Goldman and Bardavell LP had owned 28-30 Bay State Rd. since Oct. 1962. Michael J. Holland is manager of 30 Bay State Road LLC.


BUYER: 38 Lyme Street LLC, mgd. by Andreas TsitosSELLER: 38 Lyme Street Realty LLC, managed by James P. DeVellis and Paul DeVellis PRICE/ADD: $6,400,000; 38 Lyme St., MaldenMTG: $5,120,000 from Webster Five Cents SBNOTES: Multifamily property, constructed 1988; building size is 40,475 sf, lot size is 1.1 acres; 30 units; last sold for $1,475,000 in June 1993

BUYER: Stella Gogou and Alexandros PapadopoulosSELLER: Michael J. Heffernan PRICE/ADD: $4,100,000; 45 Hancock St., BostonMTG: $2,250,000 from Hingham Institution for SavingsNOTES: Multifamily property, constructed 1900, renovated 1992; building size is 5,150 sf, lot size is 1,475 sf; five units; last sold for $161,900 in May 1992

BUYER: 30 Bay State Road LLCSELLER: Bardavell LP, managed by David M. Goldman, president and treasurer PRICE/ADD: $1,000,000; 28-30 Bay State Rd., QuincyMTG: $800,000 from South Shore BankNOTES: Multifamily property, const. 1950; building size is 5,075 sf, lot size is 9,825 sf; eight units; seller’s family ownership in property dates to Oct. 1962

BUYER: 73 Mt. Vernon Street LLC, managed by David Wayne DanielSELLER: Kenley Realty Co., managed by Peter Swartz, general partnerPRICE/ADD: $6,700,000; 73 Mount Vernon St., BostonMTG: $8,700,000 from Rockland Trust Co.NOTES: Multifamily property, constructed 1899, renovated 2012; building size is 8,525 sf, lot size is 3,275 sf; nine units; last sold for $145,000 in July 1974

BUYER: 75 Haven Street LLC, mgd. by Michael SullivanSELLER: Matteo Gallo, trustee of the Ocean View Nominee TRPRICE/ADD: $1,800,000; 73-85 Haven St., ReadingMTG: $1,350,000 from Webster BankNOTES: Multifamily property, constructed 1930; building size is 7,200 sf, lot size is 30,500 sf; nine units; last sold for $385,000 in Oct. 1982

BUYER: 27 N Margin Street LLC, managed by Christopher J. RochesSELLER: Gavin P. LamontagnePRICE/ADD: $1,205,000; 27-29 North Margin St., BostonMTG: $1,158,208 from Reading Cooperative BankNOTES: Multifamily property, constructed 1899; building size is 1,850 sf, lot size is 625 sf; four- to six- units; last sold for $430,000 in Sept. 1998

BUYER: 27 Charter Ventures LLC, managed by Collin YipSELLER: TI One LLC, managed by Joseph P. Bisognano III, president and treasurerPRICE/ADD: $2,350,000; 27 Charter St., BostonNOTES: Multifamily property, constructed 1910; building size is 4,425 sf, lot size is 1,150 sf; four- to six units; last sold for $1,765,000 in Oct. 2015

BUYER: Essex Apartments Property Owner LLC, managed by JRK Investors Inc.SELLER: Avalonbay Communities Inc., managed by Timothy J. Naughton, president; Keri A. Shea, treasurer

PRICE/ADD: $45,100,000; Prospect Street, Lot 4, Peabody

MTG: $37,162,000 from Berkadia Commercial Mortgage LLC

NOTES: Multifamily property, constructed 1999; apartment building size totals

172,650 sf, lot size is 11 acres; seven buildings and 154 units; property last sold for

$4,800,000 in May 1999

BUYER: 72 Mall LLC, managed by Andreas A. Tsitos

SELLER: Linda Realty Group LLC, managed by Andreas A. Tsitos

PRICE/ADD: $3,150,000; 72 Mall St., Lynn

MTG: $2,520,000 from Digital Federal Credit Union

NOTES: Multifamily property, constructed 1973; building size is 18,600 sf, lot size is

17,850 sf; 21 units; last sold for $1,772,000 in Jan. 2007

BUYER: 585 Somerville Avenue LLC, managed by Julian B. Lewis and Antonia Shelzi

SELLER: Alfredo S. Sequeira and Maria F. Sequeira

PRICE/ADD: $1,425,000; 583-585 Somerville Ave., Somerville

NOTES: Mixed-use property, constructed 1900; building size is 4,575 sf, lot size is

4,100 sf; multi-family and retail; six units

BUYER: Wollaston Highland LLC, managed by Giancarlo Micozzi and Marcello Micozzi

SELLER: Eileen Dailey, Martin Devane, Kathleen Floyd, and Caroline Gilbertson,

trustees of Mayo Realty Trust II

PRICE/ADD: $3,750,000; 261-269 Highland Ave., Quincy

MTG: $2,750,000 from Brookline Bank

NOTES: Multifamily property, const. 1950; building size is 9,050 sf, lot size is 15,450

sf; 15 units; sellers’ family acquired property for $263,000 in Dec. 1974

BUYER: 4151 LLC, mgd. by Urban Edge Housing Corp.

SELLER: Ora Johnson and Otis Wiggins

PRICE/ADD: $585,000; 51 Walnut Pk., Roxbury


More than three decades after its last sale, 75 Arthur St. in Quincy has been ac-quired by Micozzi Management of Allston for $2,405,000 fueled by $2,020,000 from Brookline Bank. The 16-unit apartment building was purchased from 71 Arthur Street Realty Trust and its manager, Barbara K. Walsh. Completed in 1960, 75 Arthur St. has 11,525 sf of space on a 15,525-sf lot. Its prior sale occurred in Oct. 1984 when the red-brick structure fetched $580,000.


MTG: $1,200,000 from Community Housing Capital Inc.NOTES: Three-family property, constructed 1890, renovated 2002; building size is 4,525 sf, lot size is 9,275 sf; last sold for $115,000 in Feb. 1988

BUYER: 875-889 ALH LLC, c/o Southwest Boston CDC, managed by Erica Schwarz, executive director

SELLER: We Close The Deal LLC, managed by Alan B. Sharat, Fred Starikov, and Stephen Whalen

PRICE/ADD: $2,040,000; 875-889 American Legion Hwy., BostonMTG: $1,754,000 from Boston Private B&T Co. NOTES: Multifamily property, constructed 1994; building size is 7,250 sf, lot size is 13,500 sf; eight units last sold for $1,400,000 in March 2013

BUYER: Lacourt Enterprises LLC, mgd. by Mouhab Rizkallah SELLER: Hrant H. Russian, trustee of Orchard Realty TRPRICE/ADD: $8,500,000; 131 Orchard St., SomervilleMTG: $5,950,000* from First Republic BankNOTES: Multifamily property, constructed 1900; building size is 18,800 sf, lot size is 10,025 sf; 25 units; last sold for $270,000 in May 1977; *mortgage also covers 5

Chandler St., 2 Cherry St., 62 College Ave., 20-24 Freemont St., 231-233 Holland St.,

2 Kenwood St., and 483 Medford St., Somerville by 62 College Ave. Trust LLC, LaCourt

Enterprises LLC and LaCourt Foundation LLC, managed by Mouhab Rizkallah

BUYER: AU Gallivan LLC, managed by Benjamin S. Moll and Daniel R. MollSELLER: 341 Gallivan LLC, mgd. by Mark CumminsPRICE/ADD: $2,750,000; 341 Gallivan Blvd., BostonMTG: $1,725,000 from JP Morgan Chase BankNOTES: Multifamily property, constructed 2008; building size is 8,800 sf, lot size is 6,725 sf; seven-plus units; last sold for $490,000 in Dec. 2011

BUYER: Arturo Realty LLC, managed by Giancarlo Micozzi, president and treasurerSELLER: Barbara Walsh, trustee of 71 Arthur Street Realty TR PRICE/ADD: $2,405,000; 75 Arthur St., aka 71 Arthur St., Quincy MTG: $2,020,000 from Brookline BankNOTES: Multifamily property, constructed 1960; building size is 11,525 sf, lot size is 15,525 sf: 16 units; last sold for $580,000 in Oct. 1984

BUYER: Arcadia Realty LLC, managed by James B. McClure, president and treasurer SELLER: 41 Hosmer Street LLC, mgd. by Diarmaid McGregorPRICE/ADD: $1,300,000; 26-32 Arcadia St., DorchesterMTG: $1,215,000 from Middlesex Savings BankNOTES: Multifamily property, const. 1910, renovated 1989; building size is 6,500 f, lot size is 6,550 sf; four- to six units; last sold for $450,000 in June 2010

BUYER: Dyers 431 River Street Corp., mgd. by Dennis A. Dyer, president and treasurerSELLER: Charles River Place LLC, managed by Matthew Dillon and Joseph White, Jr.PRICE/ADD: $17,500,000; 431 River St., , fka 62 Elm St. and 415-425 River St., Waltham MTG: $13,125,000 from East Boston Savings BankNOTES: Mixed-use property, constructed 2015; multifamily and retail; building size is 60,850 sf, lot size is 1.1 acres; 34 apartments and 6,000 sf of retail; property last sold

for $2,350,000 in Oct. 2014

BUYER: Rosemary Traini, trustee of 3-5 Edwin Street Realty TRSELLER: Ronald Austin, trustee of Edwin Street Real Estate TR PRICE/ADD: $1,500,000; 3-5 Edwin St., DorchesterMTG: $2,000,000 from Coastal Heritage BankNOTES: Multifamily property, constructed 1910; building size is 7,075 sf, lot size is 4,850 sf; seven-plus units; last sold for $1,332,000 in Sept. 2003

BUYER: She’s Your Queen to Be LLC, c/o BLVD Capital, mgd. by Brian Chien-Chih ChenSELLER: Fall View Associates LP, c/o Valley Real Estate, managed by Paul OldenburgPRICE/ADD: $11,700,000; 132 East Main St. and 56 Grove St., ChicopeeMTG: $9,640,000 from Berkadia Commercial MortgageNOTES: Multifamily properties; 132 East Main St., constructed 1984; building size is 23,200 sf, lot size is 1.3 acres; 78 units; 56 Grove St. constructed 1988; four buildings

total size is 7,800 sf, lot size is 1.5 acres; 25 units; last sold for $40,000 in June 1983

BUYER: 480 Main Street Owner LLC, mgd. by DSF GroupSELLER: Residences at Malden Square LLC, managed by PriderockPRICE/ADD: $73,750,000; 480 Main St., MaldenMTG: $45,000,000 from Axa Equitable Life Insurance Co.NOTES: Multi-family property, constructed 2014; building size is 243,625 sf, lot size is 1.4 acres; 195 units; last sold for $1,400,000 in July 2003

BUYER: New England Residential Properties LPSELLER: Heights at Cape Ann II LLC, mgd. by Jeffrey LibertPRICE/ADD: $5,015,226; 144-145 Essex Ave., Units A and U-C, Gloucester NOTES: Multifamily condominium units; U-A size is 74,850 sf; occupancy 92; U-C size is 74,850 sf; occupancy 92


In a trade negotiated by JLL’s Capital Markets group on behalf of Equity Residen-tial, a 156-unit apartment complex in Canton heretofore known as the Arbore-tum Apartments has fetched $28,600,000 from Universal Realty and its found-er, Stuart Levey. The development set on 40.2 acres encompasses 168,775 in a half-dozen low-rise structures Equity had owned long-term, paying $15,200,000 in May 1998 for the property that turned 25 last year. JLL Managing Directors Michael Coyne and Travis D’Amato lead the multifamily practice division which advised Equity and procured Universal Realty. Levey’s Newton operation bought One Arboretum Way through Woodfield Commons LLC using $22,800,000 in fi-nancing from Prudential Insurance Co. As part of a series of planned changes, Universal has recast the community as Woodfield Commons.


BUYER: 75 Beacon Street Acquisition LLC, managed by David M. FerrisSELLER: Dennis J. Kelleher, trustee of 75 Beacon TRPRICE/ADD: $6,500,000; 75 Beacon St., BostonNOTES: Multifamily property, const. 1899; building size is 5,900 sf, lot size is 2,000 sf; seven-plus units

BUYER: Hancock 517 Realty LLC, managed by Giancarlo Micozzi and Marcello MicozziSELLER: Larry F. Young PRICE/ADD: $4,300,000; 517 Hancock St., Quincy MTG: $3,000,000 from Hingham Institution for Savings NOTES: Multifamily property, constructed 1975; building size is 10,250 sf, lot size is 17,300 sf; 21 units; last sold for $46,000 in Oct. 1970

BUYER: Brookline Property at Garrison Rd., LLC, managed by Tasneem Mustali Dohadwala

SELLER: Garrison Road Realty LLC, mgd. by Nina FaroukPRICE/ADD: $2,178,000; 39 Garrison Rd., BrooklineNOTES: Multifamily property, constructed 1900; building size is 4,650 sf, lot size is 2,250 sf; four units; last sold for $1,680,000 in March 2013

BUYER: 6 Blair Place LLC, managed by Gaetano F. MorelloSELLER: 6 Blair LLC, managed by Houman BaianyPRICE/ADD: $3,800,000; 6 Blair Pl., CambridgeMTG: $2,470,000 from JPMorgan Chase BankNOTES: Multifamily property, constructed 1974; building size is 11,250 sf, lot size is 10,000 sf; 12 units; last sold for $2,900,000 in March 2016

BUYER: Renaissance Investments at Shawmut Avenue LLC, managed by Lewis A. Legon

SELLER: Kenneth Freed and Diane M. SibleyPRICE/ADD: $4,300,000; 327-329 Shawmut Ave., BostonMTG: $5,380,000 from Salem Five Cents SBNOTES: Multifamily property, constructed 1899; building size is 5,350 sf, lot size is 1,975 sf; four- to six units; sellers’ family $368,300 in March 1977

BUYER: University of Massachusetts Building Authority, managed by Patricia A. Filippone, executive director

SELLER: Perkins Place LLC, managed by Robert DelhomePRICE/ADD: $40,350,000; 21 and 39 Perkins St., LowellNOTES: Mixed-use properties, including apartments; 21 Perkins St. size is 69,725 sf, lot size is 20,500 sf; 39 Perkins St. size is 142,500 sf, lot size is 35,050 sf;

last traded in June 2005 portfolio sale of $2,310,000; see related sales in this list, all

on Perkins Street, Lowell

BUYER: University of Massachusetts Building Authority, managed by Patricia A. Filippone, executive director

SELLER: One Perkins Street LLC, mgd. by Robert DelhomePRICE/ADD: $15,150,000; 65 Perkins St., LowellNOTES: Multifamily properties, mix of new and renovated; size totals 45,450 sf in seven buildings; properties two- and three-story design; property last sold for

$50,000 in Aug. 2012

BUYER: BC Palmer Green LLC, c/o Beacon Communities, managed by Pamela Goodman, president

SELLER: Palmer Green Associates Limited Partnership, managed by Timothy CowlesPRICE/ADD: $12,100,000; 1 Beacon Dr., PalmerMTG: $1,350,446 from Palmer Green Associates Limited Partnership, $3,725,067, $4,068,000, and $11,509,000 from Massachusetts Housing Finance Agency

NOTES: Multifamily property, constructed 1980; 25 buildings ranging from 2,450 sf to 4,800 sf; total building size of 105,025 sf, lot size is 68 acres; property last sold for

$150,000 in April 1980

BUYER: We Close the Deal LLC, mgd. by Alan Sharaf, Fred Starikov and Stephen WhalenSELLER: Artemis Hudson LLC, managed by Alex HodaraPRICE/ADD: $1,410,000; 95 Hudson St., BostonMTG: $1,128,000 from Georgetown BankNOTES: Multifamily property, constructed 1899; building size is 2,550 sf, lot size is 1,400 sf; four- to six units; last sold for $550,000 in April 2012

BUYER: Onset Beach MHP LLC, managed by Matthew P. FalconeiriSELLER: The ADB Family LLC, managed by Marcia A. McIntyre PRICE/ADD: $3,050,000; Eleventh Street, and Waban Avenue, WarehamMTG: $2,287,500 from Bristol County Savings BankNOTES: Multifamily property; first building a Ranch property, constructed 1975; house size is 800 sf, lot size is 5.5 acres; two bedrooms and one bath; second building a

single-family property, constructed 1920; house size is 500 sf; one bedroom and one

bath;Onset Beach Mobile Home Park; last sold for $300,000 in Oct. 1983


Dedham Institution for Savings loans totaling $5,875,000 have enabled the $4,250,000 purchase of two Quincy apartment buildings by Westside Gardens LLC, its managers Kishore Gowda and Savitha Gowda acquiring the 56-year-old assets from John J. Driscoll’s Chestnut Realty Trust, owner of 615 and 633 Quarry St. since May 1997 when the properties could be had for a mere $870,000. The larger of the pair is 615 Quarry St., with 16 apartments in a 13,575-sf con-stitution whereas 633 Quarry St. contains four apartments splitting 3,200 sf. Dedham Institution for Savings provided $2,975,000 and a second mortgage of $2,900,000 to Westside Gardens LLC used in securing the assets while another Gowda property at 310 Copeland St. in Quincy was also financed by the same lender.


RHA CALENDAR OF EVENTS

RHA OFFICERS

@RHAboston

2016

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NOV. 9 - RHA PROFESSIONAL DEVELOPMENT SERIES LOCATION: Christopher Columbus Plaza, Boston

NOV. 10 - 12TH NAA ASSEMBLY OF DELEGATES LOCATION: National Harbor, MD

NOV. 29 - DEC. 1 - CAMT LOCATION: ARS Headquarters, Newton

DEC. 13 - RHA PRESIDENT’S AWARDS RECEPTION LOCATION: InterContinental BostonFOR MORE EVENT INFORMATION VISIT WW W.GBREB.COM/RHA.

Sarah MathewsonPRESIDENT

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Maintenance Mania ® drew over 125 maintenance professionals, cheered on by over 50 spectators, to the Lantana, in Randolph on October 13th. Individuals performed seven maintenance activities in a timed competition, and then went head to head in the race car competition using cars they built out of maintenance parts. Winning times will be compared with other com-petitions in the Northeast with the regional winner advancing to the national competition which will be held on Atlanta in June of 2017.

RHA EVENTSNAP SHOTS

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FALL 2016


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President Elect - MARK R. EPKER

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