bay state apartment owner
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The Official Magazine of the Rental Housing Association of MassachusettsTRANSCRIPT
Bay State Apartment Owner1
BAYSTATE SECOND QUARTER 2016
OFFICIAL MAGAZINE OF THE RENTAL HOUSING ASSOCIATION
L I V E PLAY Competing For Residents With
Lifestyle Amenities
WORK
AVA Theater District, rooftop lounge
Eastern Mortgage CapitalMultifamily • Senior Housing • Skilled Nursing
Some Recent Multifamily Closings
$24,275,100223(f) Permanent Loan
Market Rate ApartmentsGeorgetown, MA
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Peter Panagako Senior Vice President
Benjamin DrussVice [email protected]
Looking for Capital? Contact Us !
Eastern Mortgage Capital | 155 Federal Street, Suite 1600 | Boston, MA 02110
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Celebrating our Twelfth Year of Total Dedication to FHA Financing and Client Service
Bay State Apartment Owner3
Inside BSAO2
LIFESTYLE FAMILY HOUSING
competing with amenities + pairing your
prospects
WOLLINGER GETS the call to the hall
MY GENERATIONthe next wave ready
to carry RHA
THE LEGAL WATCH
rights and responsibilities in domestic violence
IT’S COOKOUT SEASON
join the RHA for family fun Cookout at Gillette
QSECOND QUARTER 2016 TABLE OF CONTENTS
6
9
14
20
17
25THE REAL
Reporter®PUBLISHED BY
19FROM WASHINGTONMaking Good Decisions
6 UNIT MULTI N. ENDTRADES FOR $4.25M
Q2 multifamily sales continue hot market in rise
Bay State Apartment Owner4
For many years, a hard copy of the magazine was included
in a quarterly mailing to all RHA members. Increased costs
for delivery and production out stripped revenue. Longer lead
times made stories less timely. In short, the print edition was
no longer financially feasible.
RHA has decided to partner with the publisher of The Real
Reporter in the production and dissemination of a new digital
edition of The Bay State Apartment Owner. The Real Reporter
enjoys a stellar reputation for over ten years of reporting and
analysis of commercial real estate news. The magazine will
be available directly from the RHA website and through a link
from The Real Reporter
What is new? As you can see, The Bay State Apartment
owner has been re-branded with a new logo, and a new
look. Content is timely, and much of the reporting will be
a collaborative effort between both the Rental Housing
Association and The Real Reporter. One thing has not
changed; the magazine will continue to be a benefit of
membership in RHA.
I hope you enjoy this current issue. Inside, our feature story
focuses on the “Live Work Play” trend that is emerging in our
industry. Housing developers are embracing a mix of housing
and retail in proximity to work places to create a new dynamic
in how we look at residential development.
As always, your feedback is welcome. What would you like
to see in future issues?
PRESIDENT’S MESSAGE
WELCOME TO THERE-LAUNCH OF BAY STATEAPARTMENT OWNER The Official Publication Of The Rental Housing Association
Sarah Mathewson Senior Vice President, Property Operations
for AvalonBay Communities and 2016 President of the Rental Housing Association
BAYSTATE
The new magazine nameplate
WELCOME TO THERE-LAUNCH OF BAY STATEAPARTMENT OWNER The Official Publication Of The Rental Housing Association
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
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Bay State Apartment Owner6
Did you know that the Millennials now represent more than 25% of
the nation’s population? This number has surpassed the Baby Boomers and
Generation X, making Millennials the largest generation ever. As the work-
force population changes with the generational tides, the demand for new
technology, trends, and workplace philosophies will transform as well.
Want To Help Make Waves? A committee of 20 volunteer industry professionals from the areas of
property management, maintenance, insurance, legal, restoration, and
finance meet monthly to brainstorm seminars, events and meetups.
From informal gatherings at various locations in Massachusetts, to sneak
preview tours at newly constructed apartment communities, NextGen offers
members the opportunity to network in a casual and friendly environment,
while building strong professional relationships. Just a few months ago,
AVA Back Bay hosted an evening for NextGenners where members were
able to ask open questions to a few of AvalonBay’s leaders including Sarah
Mathewson, Senior Vice President of Property Operations (and RHA’s 2016
President)!
We were given VIP tours of the community and took in the view of Boston
from an apartment on the 10th floor.
TALKIN BOUT MY
GENERATION
Courtney Mathiowitz 2016 NextGen Chairperson
Associate Director of Marketing
at HallKeen Management
CALLING ALL FUTURE LEADERS! I give you full permission to text-snapchat-instagram-tweet-
hashtag-pin-vox-link and repost this information...
Bay State Apartment Owner7
In February, we attended an event and insid-
er’s tour at Ink Block and mingled with Ted Tye of
National Development and John Martin of Elkus
Manfredi Architects. In March, we hosted a panel
of past RHA Award of Excellence Winners for an
open Q & A forum.
These events encourage the opportunity to
foster relationships with high level executives
as well as your peers in the industry – all just by
being a member.
While leaders do come in all ages and ex-
perience, RHA NextGen group’s mission is to
cultivate future leadership by uniting industry
professionals through education, mentorship,
and networking. Now in its 5th year, NextGen has
over 120 members and has played a major role in
the continued growth of RHA Membership.
Typical Member Profile• Career-oriented
• New to the workforce or new the industry (typically less than 10 years)
• Interested in industry trends
• Looking to build professional relationships
• Loves the apartment industry!
How To Join New to RHA? Try the Test Drive! Take your 1st year membership for a spin for just $50!
Already an RHA member? Ask to join NextGen for no additional cost!
Get involved ! Join the NextGen committee and meet with peers on a monthly basis.
Email Joshua Cooke, [email protected] to sign up. Welcome to NextGen!
MEMBER TESTIMONIALS“NextGen is the common platform that brings us
together to share new trends, learn about other’s
experiences and reach new goals in our industry.” - Nicole (Stone) Cameron, NALP, C3P | WinnCompanies
“Joining NextGen has opened my professional net-
work to new heights and is only continuing to grow.” –Jared Gardner | Corcoran Management Company
“Educational, well-attended, fresh and interesting.” – Paula Solemina | Pro-Care Inc.
“Being a part of NextGen gives me the opportunity to meet and connect with my fellow peers that are in the same position in their careers as I am.” – Jeffrey Winnick | Swerling Milton Winnick Public Insurance Adjusters, Inc.
“NextGen allows me to become acquainted with my industry colleagues on a more personal and intimate level, further strengthening and solidifying the relation-
ships.” – Daniel M. Vasserman | JPMorgan Chase & Co.
Top Reasons to Join1. Career Development - Tap into expertise
and open doors you may not otherwise have access to
2. Connections & Networking - Increase your connections and always know the right person to call. It’s not what you know, but who you know!
3. Get Noticed - Add your involvement to your resume and LinkedIn profile
4. Generate New Business - Referrals are always the best qualified lead
5. Increase Your Confidence - Push yourself to meet new people and step out of your comfort zone
6. Stay Ahead of Industry Trends - Educate your-self on emerging technologies & developments
7. Make Lasting Friendships - The best way to find your healthy work-life balance
8. Mentorship - Pair up with an industry executive or peer role model
9. Professional Trainings - Attend seminars and trainings to help you achieve in your career
10. Discounts – Receive discounted pricing to industry events
Bay State Apartment Owner8
COLLABORATIVE CULTURE RELATIONSHIP FOCUSED
DEFINED EXPERTISE
w w w . H TA p a r t m e n t s . c o m600 Market Street – Suite 686 | Lynnfield, MA 01940 | Main: 781-776-4000 | Fax: 781-823-0245 | [email protected]
UNDER
CONTRACT
6 Blair PlaceCambridge, MA
CLOSED
62 Spring StreetCambridge, MA
$2,050,000
279 Western AvenueCambridge, MA
$2,385,000
CLOSED
44 Clay StreetCambridge, MA
$1,360,000
CLOSED
7-9 Sparhawk StreetBoston, MA
UNDER
CONTRACT
23 Cottage AvenueSomerville, MA
$1,565,000
CLOSED DAVIS SQUAREDAVIS SQUARE
Direct: (781) 776-4004Mobile: (617) 945-6915
John PentoreSenior Associate
Direct: (781) 776-4002Mobile: (978) 702-7032
Dennis KelleherVice President
Bay State Apartment Owner9
BY JAY FITZGERALD
f multifamily housing developers have learned one thing about the
“live-work-play” phenomenon in their industry, it’s this: It’s not a one-
size-fits-all proposition.
The image of the classic “live-work-play” community is of a new or
renovated multifamily structure with ground-floor retail, nestled in an
urban neighborhood with easy access to an array of amenities such as
restaurants, museums, parks, mass transit, boutique food stores, bars,
coffee shops, office buildings and other residential dwellings. The classic
residents are either hip young professionals or empty-nester adults.
But industry officials say that while those stereotypes still generally
hold true, the market in Greater Boston is constantly shifting in terms
of who wants what - and where and when. Increasingly, developers are
finding, for instance, that young families, with children, are also expressing
demand for urban housing – and the accompanying amenities families
require, such as indoor playrooms and outdoor playgrounds.
LIVE WORK
PLAYI
Top pictures: exterior & interior Loft 23, Cambridge, Managed by ForestCity Bottom: AVA Theater District by Avalon
Bay State Apartment Owner10
Older non-Millennial workers also want to
live in urban environments, though they
may not be so keen on building amenities
demanded by younger professionals, such
as landlord organized happy hours or roof-
top parties.
And speaking of urban settings, some
people, either by choice or due to work
requirements, don’t want to live in cities,
big or small. They want or need suburban
housing – but in an “urban-like” setting
with nearby restaurants and shops that they
can walk to easily. They also own cars in
need of parking spaces.
“We’re all trying to figure it all out,” said
Peter Sougarides, a principal at Samuels
& Associates, best known for develop-
ing properties in Boston’s now booming
Fenway, including the 576-unit Trilogy and
the 200-unit 1330 Boylston. “There’s no
formula book telling you what to do. It’s
constantly evolving, constantly changing.”
“There are people in my industry
spending all their time looking at the mar-
ket and trying to anticipate what people
want next,” said Kelly Saito, managing
partner at Gerding Edlen, developer of the
38-unit Factory 63, in a former industrial
building in Boston’s Fort Point area, and
the built-from-scratch, 202-unit 315 on A
(sold last year to Equity Residential), right
across the street from Factory 63.
Gerding Edlen’s Seaport developments
are a perfect case in point that there’s no
cookie-cutter approach to live-work-play
apartments, also known as “lifestyle” multi-
family housing.
Factory 63 is a classic brick-and-beam
building, renovated into mostly small stu-
dios of about 500-square-feet each and
aimed at young Millennial workers, who
like congregating together in communal
settings, such as the building’s ground-
floor gathering place that resembles a
“large living room,” said Saito. The ground-
floor space is open to the public.
But the twenty-story 315 on A (i.e.
A Street) is more high-end and geared
toward a more mixed, slightly older crowd,
including empty-nester tenants in their 50s
and 60s, with larger one- and two-bed-
room apartments fetching higher rents.
The ground-floor is also used for tenant
gatherings, but it also has galleries for the
arts and it’s most definitely not open to the
public.
So right across the street from each
other are two “live-work-play” apartment
buildings, both serving slightly different
markets, with some overlaps. “We’ve had
some tenants who started out a Factory 63
and then move over to 315 on A because
they wanted a change,” said Saito.
Even then, the differences don’t mean
that each building stays exactly the same.
Within them, there are constant changes,
as tenants demand new, unique services
and amenities.
Saito notes, for instance, that younger
people are far more likely to order online
every-day household items, from food to
toilet paper, and have them delivered to
pictured: Samuels & Associates’ The Launch at Hingham Shipyard has summer outdoor movie nights for residents as well as visitors to restau-rants and shops
Bay State Apartment Owner11
their apartments. So Gerding Edlen has had to ef-
fectively build “package rooms” to accept deliveries
at Factory 63. The firm is also now starting to put in
“automated lockers” so tenants can pick up items.
“Just that one new phenomenon has so many
ripple effects,” he said of online deliveries to
buildings. “The shear volume of packages being
delivered has grown by astronomical amounts.”
Lauren Paton, the regional Northeast manager
of Forest City Realty Trust, said there’s no doubt
that there are different demographic factions and
needs within the overall live-work-play segment.
Younger tenants want a “hip vibe” – with small-
er, sparser apartments and more communal spaces
for Friday beer gatherings or roof-deck parties.
“It’s kind of like a grown-up dormitory,” she said.
Meanwhile, older tenants want a more subdued
atmosphere with extra space for yoga classes and
fitness centers, not parties.
Forest City runs three multifamily complexes
in the Boston area: the 240-unit Radian apart-
ment building at 120 Kingston Street, the 531-unit,
four-building University Park in Cambridge, and the
305-unit Hamel Mill Lofts, in a converted mill in
Haverhill.
Opened a few years ago, Radian is Forest City’s
stab at trying to capture both young professional
Millennials and empty nesters – and anyone in be-
tween. Rents range from $2,500 for a 564-square-
foot studio to $8,500 for a 3-bedroom penthouse
apartment. For family gatherings, Radian offers a
communal “catering kitchen” and dining room that
tenants can reserve for events, she notes.
No matter what the amenities provided by
developers within buildings, Paton said the most
important amenity, at least for urban living, is the
street life outside – the buzz, the restaurants, the
shops, the access to mass transit. Radian is located
at the crossroads of Boston’s Leather District, Chi-
natown and the Financial District, she notes.
“Ultimately, it’s all about location and conve-
nience,” she said. “People live very busy lives and
they want things close by. The gift of time is really
important to them.”
Some development companies are now
branding the different types of segments within the
overarching “live, work, play” field.
AvalonBay Communities breaks its holdings
down into three brand categories: The Avalon
brand (for higher-end tenants, often empty nesters
People live Very busy lives and they want things close by. The gift of time is really Important to them.Lauren Paton, NE ManagerForestCity Realty
pictured: Recreation Room of Watermark Seaport, developed by Skanska and Twining Properties
Bay State Apartment Owner12
and older professionals who demand more luxuri-
ous amenities); the Ava brand (aimed at the young
“hip” crowd who require smaller and more sparse
units); and the Eaves brand (generally “value living”
for all demographic groups, usually in suburban
settings).
Peter Erdos, a general manager at AvalonBay,
said branding multifamily housing by categories is
not unlike what hotels do with their multiple types
of hotel brands aimed at slightly different custom-
ers. Erdos himself is former hotel-industry manager
– and he’s convinced branding of multifamily com-
plexes works for both companies and the tenants.
Erdos, who manages both Ava and Avalon
properties in Boston, said one of the buildings he
manages in Boston is Ava Back Bay, a 1960s build-
ing renovated into 271 units two years ago, with
studios ranging in size of 600 to 700 square feet
(with rents around $3,000) and one- and two-bed-
room units (with rents ranging from about $3,000
to $4,500 and up). Ava Back Bay has lounge spaces,
a game room, bicycle stands and even a small bike
repair shop.
In general, for all types of urban multifamily
housing complexes, one amenity trend that Erdos
takes note of is a demand for more outdoor space
(gardens, patios or roof-decks). It’s call for com-
mon areas, for tenants to meet people, and fitness
centers, and yoga-class areas, is also stronger than
ever, he said.
“The bottom line is that everything is about
style, but everything can be a different style,” says
Erdos. “It doesn’t all have to be the same.”
In Boston, competition for apartment tenants is
stiff, so offering high-quality amenities and (man-
agement) services are key, right down to “quickly
replacing the light bulbs,” he adds. “You have to
stay on your toes and be flexible … Quality service
is key.”
Patrick McMahon, director of development at
Federal Realty Investment Trust, the lead developer
of Somerville’s massive Assembly Square projects,
says AvalonBay has already built two multifamily
buildings, containing at total of 448 apartment
units, at his firm’s development site in Somerville.
One is an Ava branded building, aimed at younger
professionals, and the other is aimed at a broader
market and has larger apartments.
pictured: Lounge at 315 on A, managed by Equity Residential and rooftop pool & outdoor lounge at One Canal an Aimco property
The bottom line is that everything is about style, but everything can be a different style,” says Erdos. “It doesn’t all have to be the samePeter Erdos, General Manager at AvalonBay
Bay State Apartment Owner13
Now Federal Realty has embarked, on its own without
AvalonBay, on building 447 additional units at Assembly
Square, aimed at a broad cross-section of future tenants. The
new complex will include a terrace pool, bocce court, gar-
den plots, and a small outside park for general use, as many
tenants today are now demanding, McMahon said.
Construction of this “second phase’ of multifamily
housing at Assembly Square followed extensive marketing
research on the types of tenants looking for housing in the
Boston area – and the research showed there was still strong
demand for apartments from young families with children
and empty nesters.
“The market is very competitive and required us to be
innovative and creative in how we approached this,” he said.
“There’s no one-size-fits-all approach to these projects.”
Ted Tye, head of National Development, the developer of
the giant Ink Block project at the site of the former Boston
Herald complex in Boston, said he’s personally and profes-
sionally witnessed the evolving nature of the “live-work-play”
phenomenon over the years.
He noted that his company, last decade, developed Med-
ford’s Station Landing – with 600 apartments, 127 condos
and 100,000 square feet of retail space – in the belief people
wanted convenient urban living near public transit stops,
in Station Landing’s case near the Wellington T station. But
finance was hard to come by at that time.
“Lenders weren’t recognizing the trend and were often
shy about lending for such projects,” he said.
But now banks are much more willing, almost eager, to
fund mixed-used projects with a combination of multifamily
housing, retail and offices. That’s what ultimately has made
Ink Block – with 315 apartments, 77 condos and 80,000
square feet of space – possible in recent years, Tye said. Ink
Block is aimed at both young professionals and empty nest-
ers, tilting toward the younger hip crowd, and the “surround-
ing street life is ultimately the big amenity,” he said.
“In a way, we’re all returning to how neighborhoods were
originally laid out,” Tye said. “In the 1800s, they didn’t have
cars, so people had to be close to stores and shops and plac-
es of work. People had to walk to where they wanted to go.
We got away from that in the 1900s, but now we’re returning
back to it. That’s what is going on.”
www.masshousingrental.comMission. Value. Service.
MassHousing’s Workforce Housing FundMany middle-income families are struggling with the high
cost of housing in Massachusetts.
Our new $100 million Workforce Housing Fund offers
developers a new source of subsidies to build apartments
for middle-income renters.
To find out how this fund could be used in your next
mixed-income development, please visit
www.masshousingrental.com
Gateway Residences (above) is the first development to receive workforce housing funds. Gateway Residences is a 71-unit, mixed-income development in Lynn receiving financing for 10 workforce housing units.
Gateway Residences, Lynn
Bay State Apartment Owner14
William (Bill) Wollinger, SHCM, CAPS, Chief Operating Officer
and member of the Board of Directors for Boston-based WinnCom-
panies, was inducted into the NAA Hall of Fame during the 2016 NAA
Education Conference & Exposition. Induction into the NAA Hall of
Fame represents the highest honor that can be bestowed upon an
apartment professional. Wollinger is the 19th person inducted during
the 77-year history of NAA.
“I am humbled to be considered among those individuals who
are members of the National Apartment Association Hall of Fame,”
Wollinger said. “Receiving recognition for one’s contributions and be-
ing selected by peers in an industry in which I have served for 45 years
is incredibly rewarding. This is the honor of a lifetime.”
Wollinger has worked in property management since 1971, serving
WinnCompanies for more than 35 of those years. Collaborating with
the board of directors and senior leaders, Wollinger helps define the
company’s vision; ensuring the implementation of the company’s
objectives while delivering high-quality services to its clients and
residents.
An active member of NAA, as well as his local associations,
Wollinger’s true passion lies in education. After serving as the 2006-
2007 NAAEI President, Wollinger was called upon to reprise his role
in 2012 when the individual slated as the next president was unable
to serve. Wollinger did so graciously, most notably championing for
NAAEI to host its first Military Career Fair at the 2013 NAA Education
Conference & Exposition in San Diego.
He has eagerly assisted in the implementation of Residential Prop-
Bill Wollinger Inducted Into NAA Hall of Fame
William (Bill) Wollinger SHCM, CAPS, Chief Operating
Officer & member of the Board
of Directors for Boston-based
WinnCompanies
Bill is the consummate association volunteer
leader ... He has a contagious passion for our
industry, is a champion of NAA and Education
institute products, events and services, is a strategic
thinker, and—most importantly—leads by example and walks the
walk.Maureen Lambe, CAE, Executive Vice President of NAAEI
HALL OF FAME WINNER
Bay State Apartment Owner15
Bill Wollinger Inducted Into NAA Hall of Fame
erty Management (RPM) programs nationwide; introduced
NAAEI’s ACE Awards; initiated the development of NAAEI’s
Leadership initiatives with GALLUP and Dale Carnegie; helped
establish annual Apartment Careers Month; served as a key
driver of the initial NAAEI Capital Campaign; and was instru-
mental in championing the concept of centralized national
training through NAAEI.
Leading NAAEI by example, Wollinger’s company has more
NAAEI-credentialed employees than any other. He has fully
embraced NAAEI’s leadership initiatives, putting over 110 em-
ployees through Dale Carnegie and Gallup training.
“Bill is the consummate association volunteer leader,” says
Maureen Lambe, CAE, Executive Vice President of NAAEI. “He
has a contagious passion for our industry, is a champion of
NAA and Education Institute products, events and services,
is a strategic thinker, and—most importantly—leads by ex-
ample and walks the walk. It has been an honor and pleasure
working with Bill to fulfill the mission of the NAA Education
Institute.”
Added NAA President & CEO, Doug Culkin, CAE, “Bill’s
greatest contribution to this industry has been his work in ed-
ucation and membership growth, but he is a true NAA Renais-
sance man. He is extremely deserving of this award for all he
has given to NAA.”
In addition to his work with NAAEI, Wollinger was the NAA
Membership Growth Task Force Chair in 2014 and 2015—
spearheading development of membership strategies that
supported NAA’s growth. During that time, NAA increased its
membership by over 1 million apartments.
Wollinger led efforts to grow NAA in markets such as New
York City, Cleveland and Minnesota, and worked tirelessly to
communicate the NAA value proposition to his peers.
Prior to joining WinnCompanies, Wollinger served as an
officer in the United States Army, with an extended tour of
duty in Vietnam as a Medical Evacuation helicopter pilot, flying
more than 2,000 combat missions. He holds a Bachelor of
Science from the University of Massachusetts Amherst.
Always you.
CSB-15-017_CSB_CommercialRE_5x7_25_RealReporter.indd 1 4/26/16 3:59 PM
Creative bankers?Don’t laugh, they do exist.
Always you.
When it comes to commercial real estate, one size doesn’t fi t all. That’s
why at Cambridge Savings Bank we take the time to craft individual
lending solutions that truly match your specifi c needs. We take great
pride in being nimble, responsive, and always focused on you.
For more information call Daryl Smith at 617.441.4264 or
Michael Lindgren at 617.441.4122 or visit cambridgesavings.com
CSB-15-017_CSB_CommercialRE_5x7_25_RealReporter.indd 1 4/26/16 3:59 PM
Creative bankers?Don’t laugh, they do exist.When it comes to commercial real estate, one size doesn’t fit all. That’s why at Cambridge Savings Bank we take the time to craft individual lending solutions that truly match your specific needs. We take great pride in being nimble, responsive, and always focused on you.
For more information call Daryl Smith at 617.441.4264 or Michael Lindgren at 617.441.4122 or visit cambridgesavings.com
Bay State Apartment Owner16
You come to your office Monday morning to learn that over the weekend there was a major distur-
bance in one apartment. There was yelling and swearing, fighting, and damage to the apartment. Lots of
neighbors complained. The police had to be called to calm things down. One person was arrested.
This disturbance was certainly a serious breach of the lease, so you are sure you can evict the resident.
But can you? Probably not if the resident was the victim of domestic violence.
The federal Violence Against Women Act and the Massachusetts Victims of Domestic Violence Act pro-
vide numerous protections for victims of domestic violence. It is important that landlords understand these
statutes and know how they are applicable to various situations.
The Violence Against Women Act was enacted in January, 2006, later allowed to expire, and then
reenacted in February, 2013. It provides that a landlord may not construe incidents of actual or threatened
domestic violence as serious or repeated violations of the lease by the victim of the violence and may not
use those incidents as good cause for terminating the victim’s tenancy. Likewise, criminal activity directly
related to domestic violence by a guest or co-tenant may not serve as good cause to evict if the victim is
the tenant or an immediate member of the tenant’s family. If the abuser and the victim are both tenants, the
landlord may take action against the abuser while preserving the tenancy of the victim.
THE MASSACHUSETTS VICTIMS OF DOMESTIC VIOLENCE ACT TOOK EFFECT IN APRIL, 2013.THE ACT HAS THREE PRIMARY PROVISIONS:
First, it allows victims of domestic violence to terminate their leases and vacate prior to the end of the
lease term. To do this, the victim must provide notice of the intention to vacate within three months of an
incident. If the victim is in fear of imminent harm no such notice is required. The landlord may request
proof that the tenant is a victim along with the name of the perpetrator. Proof may be a restraining order,
a police report, or written verification from a physician, social worker or other similarly involved party. The
victim is liable for rent for thirty (30) days after the vacate date, and the landlord must keep any information
that it receives about this confidential. Any remaining tenants are still liable for rent under the lease.
Second, it allows victims to have their locks changed. A landlord has to make a good faith effort to
change the locks and provide the tenant with new keys within two (2) business days of receiving such a
request. The landlord may request proof as stated above, and may charge the tenant for the cost to
change the locks. If the perpetrator is also a tenant, the landlord should not
give a new key to the perpetrator if the victim provides a
restraining order or police
DOMESTIC VIOLENCE: Rights and Responsibilities of Landlords & Victims
THE LEGAL WATCH
Bay State Apartment Owner17
report indicating that the perpetrator poses an imminent
threat to the victim.
Third, it prohibits landlords from refusing to rent to
an applicant who has vacated a previous tenancy under
the provisions of the Act or who previously requested a
landlord to change the locks.
So if the disturbance over the weekend had nothing
to do with domestic violence, you may have enough
to evict the tenants. But if one of the tenants was the
victim of domestic violence, you cannot evict the tenant
because of that incident.
The Violence Against Women Act does not apply if a
tenant is being evicted for a reason that has nothing to
do with domestic abuse. We often have cases involving
tenants who have been victims of domestic violence, but
who are being evicted for another reason such as failure
to re-certify, threatening neighbors, illegal drug use,
or non-payment of rent. The fact that they are also a
victim of domestic violence does not prevent a landlord
from evicting them for other reasons. There are a num-
ber of Massachusetts Housing Court cases which affirm
that a tenant who is a victim of domestic abuse may still
be evicted for unrelated reasons.
Often a victim will obtain a restraining order against
the perpetrator. These restraining orders are usually
good for ten days, and then can be extended for up to
a year. If both parties are household members, once
the landlord has proof that the order has been extended
for a year the landlord can remove the abuser from the
lease. If the order only lasts for ten days, the landlord
cannot remove the abuser absent the abuser’s assent.
If the abuser is removed from the lease, a question
often arises as to whether the remaining tenant, the
victim, has sufficient income to qualify for or afford the
apartment. Sometimes the victim has to move because
of inability to pay the rent.
If the abuser is a non-resident, the landlord can serve
a no trespass notice to keep the abuser off the prop-
erty. A copy of the notice is sent to the local
police department. This subjects the abuser to arrest for
trespassing if they come onto the property.
Sometimes, regardless of whether there is an active
restraining order in place or whether the landlord has
served a no trespass notice, the victim keeps inviting
the perpetrator back to the apartment. A 2006 Housing
Court case involving an apartment in Hudson illus-
trates this. The landlord was seeking to evict the tenant
because the police had been to the apartment at least
eleven times over a period of two or three years. In
each instance the incidents involved actual or threat-
ened domestic violence by the same individual against
the victim. Temporary restraining orders were issued but
they were never extended by the tenant. The worst inci-
dent involved the abuser stabbing the tenant and taking
one of her young children.
At trial the tenant was asked why, after all these
incidents, she allowed this individual to keep returning to
the apartment. She stated: “He’s the father of my child.
What do you want me to do?” The Court held that “the
Defendant refuses to take personal responsibility for the
safety of herself, her children, or the other residents” and
entered judgment for the landlord for
possession of the apartment. The Court did not
mention and perhaps did not consider the recently
passed Violence Against Women Act.
Domestic violence occurs all too often. Landlords,
faced with many different fact patterns, have to respond
carefully to these incidents so as to properly enforce the
lease terms while also protecting the rights of victims of
violence.
Kenneth A. Krems is a partner in the Boston law
firm of Shaevel & Krems, LLP, where he focuses on
residential and commercial real estate management
and other real estate issues.
POWERING YOUR PROSPERITYEric DraegerBerkshire GroupAvid Golfer and Northwestern FanWalker & Dunlop borrower since 2006
California loans will be made pursuant to a Finance Lenders Law License from the Department of Business Oversight.
www.walkerdunlop.comCommercial Real Estate Finance
California loans will be made pursuant to a Finance Lenders Law License from the Department of Business Oversight.
Andrew Gnazzo | 781.707.9354 | www.walkerdunlop.comCommercial Real Estate Finance
Bay State Apartment Owner19
Apartment Industry Advocates, It is July, which means
beach time and boat drinks, summer camps, lots of
seared proteins and of course
the 2016 Presidential Nominating
Conventions. That last one was on
your list, right? Maybe that is just for
inside-the-beltway nerds like yours
truly. Though with all of the media
coverage of Donald Trump these
past 12 months, one would think it
was on everyone’s mind. The
networks might even devote more than the usual one hour
of prime time to the conventions just in case something
interesting occurs. One thing Mr. Trump seems to always
deliver is something interesting.
The most recent conversation around Mr. Trump is
whether his particular brand of populism is made from the
same formula as that which fueled the “BREXIT.” It would
appear that the two flavors share at least some ingredients –
anti-establishment, anti-elite and desire for more “control”
of the nation. There are also anti-immigrant tones in both
movements though the narrative driving each is different.
There is also some similarity in the intra-party fighting both
here for the GOP and for the Conservative Party of the U.K.
The two highest profile advocates for “remain” and “exit”
were two conservatives, David Cameron and Boris Johnson,
respectively. There almost certainly must be some self-
reflection taking place in that party as they move to select a
new leader.
Would the election of Donald Trump to the Presidency
be the equivalent in scale to the BREXIT? It’s safe to say
that because he is such an outsider and not like nearly
any candidate with a 50 percent chance to win the White
House, the election of Donald Trump would be a very
significant event. Depending on who you are, the shock of
that actually happening and the potential long-term
implications are probably of equal significance to the U.K.
departing the European Union. At that point are we
looking at a world-wide movement? Should all elite
institutions and institutional players be worried for their
future? That certainly is possible. It has even been suggested
that globalization itself could be on the decline. Stopping
expansion of global trade is unlikely but events like the
BREXIT and the election of someone like Donald Trump to
the United States Presidency could change how that trade is
carried out.
The referendum on Donald Trump occurs in four
months, but remember that there are 535 other federal
policymakers who also hold our future in their hands. Even if
he wins, Mr. Trump is not sitting atop the iron throne ruling
as he sees fit. He must work with the Congress to advance
much of his agenda (Sidebar: if we have learned anything
from the current administration, it is that the President can
in fact do a lot without Congress). The House and Senate
play the critical role on policymaking in this country and
we need to make sure they are equipped with all of the
information to make good choices.
Members of the apartment industry should be thinking
how and when to get some time with their member of
Congress between now and Election Day. How about a
property tour at one of your communities? Or, a sit-down
with a small group of members just to catch up on what’s
happening in apartments in the local community? Is there
a town hall meeting or other event with the member
coming up? Any one of these is a perfect opportunity to
educate the member of Congress on you, your business,
your employees, your residents and the apartment industry
overall. Remember NAA’s grassroots program is called
Advocacy365 and is intended to be an ongoing, year-round
effort to build actionable relationships with elected political
leaders.
Greg Brown is Senior Vice President, Government
Affairs, for the National Apartment Association.
Washington Update July 2016
Making Good Choices
Bay State Apartment Owner20
BUYER: Eleven Fifty LLC, managed by Michael C. Lesburg and Susan Lesburg
SELLER: Bedros LLC, managed by Edward J. Tutunjian
PRICE/ADD: $5,300,000; 300 Marlboro St., Units 1-9, Boston
MTG: $3,030,000 from Clinton Savings Bank
NOTES: Multifamily property; 9 units; units last sold for $3,775,000 in Oct.2011
BUYER: 561 Cambridge/7th Street LLC, managed by Gaetano F. Morello
SELLER: 561 Cambridge Street LLC, mgd. by Scott Zink
PRICE/ADD: $2,400,000; 561-563 Cambridge St., Cambridge
MTG: $1,825,000 from Digital Federal CU
NOTES: Mixed-use property, constructed 1910; multifamily and retail; building
size is 6,025 sf, lot size is 2,050 sf; last sold for $1,575,000 in June 2014
BUYER: Jask Warren LLC, managed by Joseph Donato
SELLER: 22 Warren Street LLC, mgd. by Andreas Tsitos
PRICE/ADD: $2,666,000; 22-28 Warren St., Lynn
MTG: $2,132,800 from Beverly Bank
NOTES: Multifamily property, constructed 1930; building size is 19,325 sf, lot
size is 18,725 sf; 21 units; last sold for $1,527,750 in Nov. 2014
BUYER: Community Development Corporation of Boston Inc.
SELLER: Aeneas 4 LLC, managed by George Dabney
PRICE/ADD: $1,850,000; 465 Columbia Rd., Dorchester
NOTES: Multifamily property, constructed 1920,
renovated 2006; building size is 10,975 sf, lot size is 6,600 sf; seven-plus units;
last sold for $1,501,465.91 in May 2013
BUYER: 240 Main Street Realty LLC, managed by Philip J. Privitera
SELLER: Chelsea Creek Partners LLC, managed by Richard J. Viscay, Jr.
PRICE/ADD: $1,150,000; 234-240A Main St., Everett
MTG: $805,000 from East Boston Savings Bank
NOTES: Mixed-use property, constructed 1930; building size is 7,375 sf, lot size
is 4,575 sf; 7 units; multifamily and retail; last sold for $660,000 in March 2009
BUYER: 2 Hancock St LLC, managed by Ron Ifrah
SELLER: 2-4 Hancock LLC, managed by Mordechai Apelewitch
PRICE/ADD: $2,780,000; 45-47 Cross St. and 2-4 Hancock St., Malden
MTG: $2,224,000 from Greystone Servicing Corporation
NOTES: Multifamily property, constructed 1940; building size is 16,950 sf, lot
size is 6,850 sf; 20 units; last sold for $1,836,000 in Sept. 2010
BUYER: 10 Harris Street Realty Trust, by Filippo E. Frattaroli
SELLER: FDDG-MA LLC, mgd. by Donato Frattaroli
PRICE/ADD: $4,125,000; 10 Harris St., Boston
MTG: $17,525,000 from East Boston Savings Bank
NOTES: Multifamily property, constructed 1899; building size is 5,450 sf, lot
size is 1,150 sf; four- to six units; last sold for $500,000 in Dec. 1986
BUYER: Micah Realty LLC, mgd. by Daniel S. Adelson
SELLER: Jennifer L. Crowley and Suzanne M. Ferreira,
PRICE/ADD: $2,200,000; 308-318 Hurley St.,Cambridge
NOTES: Multifamily property, constructed 1920; building size is 2,400 sf, lot
size is 13,450 sf; 8 units; sellers’ family ownership in property dates to 1974
BUYER: 21-23 Lafayette LLC, managed by R. Drew
Marc-Aurele and Jane M. O’Leary
SELLER: Frederick R. Perkins, Sr. and Joan L. Perkins
PRICE/ADD: $1,262,175; 21-23 Lafayette Rd., Ipswich
MTG: $1,600,000* from Institution for Savings in Newburyport and Its Vicinity
NOTES: Multifamily property, constructed 1910; building size is 4,625 sf, lot
size is 10,025 sf; 8 units; sellers acquired property for $144,500 in May 1983
BUYER: Cambridge CT Associates I LLC, by Michael Massimino
SELLER: Joseph O. Oliveira and Leontina O. Pacheco
PRICE/ADD: $1,950,000; 384-386 Windsor St., Cambridge
MTG: $2,350,000 from First Boston Construction Holdings LLC
NOTES: Multifamily property, constructed 1920; building size is 5,575 sf, lot
size is 3,550 sf; 4 units; sellers’ family ownership in property dates to Jan. 1963
BUYER: Dharm V. Kuma and Sushma Kumar
SELLER: Spyridon Demetropoulos
PRICE/ADD: $1,300,000; 9-11 Dexter St., Medford
MTG: $928,000 from Jeanne D’Arc Credit Union
NOTES: Multifamily property, constructed 1915; building size is 4,525 sf, lot
Q2/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation
Suburban multifamily investor Arrowpoint Properties has bought 311 Water St. in Lawrence, a 24-unit apartment building secured for $1,825,000 from Glenshane LLC with $1,918,750 in backing from East Boston Savings Bank. Dating to 1972
Bay State Apartment Owner21
size is 7,400 sf; four units; seller’s ownership in property dates to Dec. 1979
BUYER: Magnolia Landing LLC, mgd. by Harry Gold
SELLER: Yvonne Johnson and Joanne J. Peterson
PRICE/ADD: $1,785,000; 16 Magnolia Ave., Gloucester
MTG: $1,350,000 from Brookline Bank
NOTES: Multifamily property, constructed 1900; building size is
0,575 sf, lot size is 23,525 sf; last sold for $450,000 in Sept. 1992
BUYER: Arrowpoint Lakeview LLC, managed by David Lamattina
SELLER: Glenshane I LLC, managed by Patrick McKenna
PRICE/ADD: $1,825,000; 311 Water St., Lawrence
MTG: $1,918,750 from East Boston Savings Bank
NOTES: Multifamily properties, constructed 1972; building size is 12,350 sf, 24
units; last sold for $1,680,000 in March 2005
BUYER: NSG Arlington Real Estate LLC, managed by Hugo and Yvette Guerra
SELLER: PTR Properties LLC, mgd. by Lawrence Roper, Jr.
PRICE/ADD: $1,200,000; 179-187 Arlington St., Lawrence
MTG: $920,000 from Metro Credit Union
NOTES: Multifamily properties; first building constructed 1925; building size
is 6,475 sf, lot size is 10,075 sf: 12 units; second building constructed 1900;
building size is 4,175 sf; last sold for $900,000 in Feb. 2005
BUYER: 194 Thorndike Street LLC, managed by Mary Cerio and Jason J. Foster
SELLER: Timothy J. Magliozzi and Zelia M. Magliozzi
PRICE/ADD: $1,500,000; 188-194 Thorndike St., Cambridge
MTG: $1,100,000 from King Street Residential Properties
NOTES: Multifamily property, constructed 1905; building size is 3,975 sf, lot size
is 4,350 sf; four units; last sold for $130,000 in Sept. 1995
BUYER: IMP Windsor at Cambridge Park LLC, managed by GID Investment Adv.
SELLER: Cambridge Park Apartments LLP, managed by Hanover Co., Houston TX
PRICE/ADD: $215,000,000; 160 Cambridge Park Dr., Cambridge
NOTES: Multifamily property, constructed 2015; building size is 479,950 sf, lot
size is 4.2 acres; 398 units
BUYER: 32 Linden St., LLC, mgd. by Yan Schechter
SELLER: Ramon Realty LLC, mgd. by Aram Donabed, Jr.
PRICE/ADD: $4,500,000; 32 Linden St., Brookline
MTG: $7,000,000 from TD Bank
NOTES: Multifamily property, const. 1915; building size is 10,125 sf, lot size is
4,200 sf; eight units; seller’s family acquired property for $55,000 in Oct. 1970
BUYER: Green Cypress LLC, mgd. by Dante Mitrano
SELLER: Arrowpoint Burlington LLC, managed by David Lamattina
PRICE/ADD: $1,800,000*; 36 Burlington Ave., Lowell
MTG: $1,350,000 from Winchester Savings Bank
NOTES: Multifamily property, constructed 1960; building size is 15,540 sf, lot size
is 27,450 sf; *buyer and seller also traded 569 Lakeview Ave., Lowell, a five-unit
apartment building, for $500,000
BUYER: Dennis A. Dyer
SELLER: Anto M. Aboyan, Knarig Aboyan and Veronica A. Sagherian, trustees of
Knarig Aboyan Revocable Trust of 2014
PRICE/ADD: $1,600,000; 67-73 Spring St., Watertown
MTG: $2,000,000* from Belmont Savings Bank
NOTES: Multifamily property, constructed 1974; building size is 7,625 sf, lot size
is 7,400 sf; last sold for $166,000 in Aug. 1983
BUYER: Cape Cod Canal Apartments LLC, managed by Matthew Newman
SELLER: 21 Thomas Avenue LLC, mgd. by John Colburn
PRICE/ADD: $1,270,000; 21 and 25 Thomas Ave., Bourne
MTG: $1,016,000 from Reading Cooperative Bank
NOTES: Multifamily property, constructed 1973; six units; building size is 5,700
sf, lot size is 20,050 sf; last sold for $465,000 in Aug. 2012
BUYER: Resource Inc. for Community & Economic Development, managed by
Theresa Malone, president; Pamela Smith, treasurer
SELLER: Clipper Properties LLC, managed by Nelson J. Brandt
PRICE/ADD: $3,100,000; 550 Teaticket Hwy., Falmouth
MTG: $3,244,000 from Bristol County Savings Bank
NOTES: Multifamily property, constructed 2005; building size is 31,700 sf, lot size
is 6.3 acres; 28 units; property last sold for $1,000,000 in Feb. 2005
BUYER: Resource Inc. for Community & Economic Development, managed by
Theresa Malone, president; Pamela Smith, treasurer
SELLER: Clipper Properties LLC, mgd. by Nelson Brandt
PRICE/ADD: $3,100,000; 550 Teaticket Hwy., Falmouth
MTG: $3,244,000 from Bristol County Savings Bank
NOTES: Multifamily property, constructed 2005; building size is 31,700 sf, lot size
is 6.3 acres; 28 units; property last sold for $1,000,000 in Feb. 2005
BUYER: Fahey Place Apartments LLC, managed by
Qing Liu, Ke Ning and Shenbo Yu
SELLER: Fahey Place Inc., managed by John D. Sullivan,
PRICE/ADD: $3,750,000; 1352 ,1360 Main St., Tewksbury
MTG: $2,812,500 from Hingham Institution for Savings
Q2/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation
Bay State Apartment Owner22
NOTES: Mixed-use properties; 1352 Main St. a single-family Ranch, construct-
ed 1960; seller acquired property for $290,000 in Sept. 2005; 1360 Main St. a
multifamily property; eight units; second building 24 units; last sold
for $710,000 in Sept. 2005
BUYER: Panruss LLC, managed by Lorraine J. and Peter J. Pantano
SELLER: Robert A. Colleameno Jr. and Salvatore J. Muccio,
PRICE/ADD: $1,950,000; 15 Stillman St., Boston
MTG: $950,000 from Winchester Savings Bank
NOTES: Multifamily property, constructed 1900; building size is 2,825 sf, lot; 4-
to 6 units; sellers’ family acquired property for $41,500 in June 1978
BUYER: Chiron Investments LLC, managed by Romie Chaudhari, Los Angeles
SELLER: ARX Urban Whiting LLC, managed byBenjamin S. Moll
PRICE/ADD: $2,750,000; 81 Whiting St., Lynn
NOTES: Multifamily property, constructed 1900; building size is 16,650 sf, lot
size is 19,050 sf; 21 units; last sold for $2,282,500 in Oct. 2014
BUYER: GM Highland House, managed byMordechai Sternstein
SELLER: Home Properties Highland House LLC
PRICE/ADD: $27,965,000; 9-49 Highland Ave.,Randolph
MTG: $22,520,000 from Capital One MultifamilyFinance LLC
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: Bow Somerville Apartments LLC, managed by True North Capital
SELLER: 39-49 Bow Street LLC, managed by Peter A. Dupuis, Jr.
PRICE/ADD: $4,555,000; 39-49 Bow St., Somerville
MTG: $17,510,000 from Brookline Bank
NOTES: 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
BUYER: Campbell Investment LLC, mgd. by Rick Costa
SELLER: Virginia Diranian, Administrator,The Estate of Harold Garabed Diranian
PRICE/ADD: $1,500,000; 253-255 Chestnut St., and 21 Fifth St., Chelsea
MTG: $1,500,000 from New Boston Capital Corp.
NOTES: Multifamily property, constructed 1920; building Backed by $3,587,500
from Hingham Institution for Savings, investor George S. Dabney has paid
$4,250,000 to secure 37 Sheafe St. in Boston’s North End neighborhood. Dating
to 1900, the 8-unit multifamily building acquired from Joseph F. Perroncello
BUYER: Boucai Properties LLC, mgd. by Solomon Boucai.
SELLER: Beacon Street Family Trust LLC, byLewis A. Sassoon
PRICE/ADD: $1,000,000; 142 Beacon St., Boston
MTG: $2,410,000 from Rockland Trust Company
NOTES: Multifamily property, constructed 1900; building size is 12,075
BUYER: 37 Sheafe Street LLC, managed by George S.Dabney,
SELLER: AAA Boston RE LLC, managed by Joseph F. Perroncello
PRICE/ADD: $4,250,000; 37 Sheafe St., Boston
MTG: $3,587,500 from Hingham Institution for Savings
NOTES: Multifamily property, constructed 1900, renovated 1989; building size
is 7,425 sf, lot size is 2,375 sf; 8 units;acquired property for $450,000 in 1986
BUYER: 135 Broadway LLC, mgd. by Andreas A. Tsitos
SELLER: Anthony C. Scolaro and Toni P. Scolaro
PRICE/ADD: $1,800,000; 135 Broadway, Everett
MTG: $1,440,000 from Digital Federal Credit Union
NOTES: Multifamily property, constructed 1988; building size is 9,600 sf, lot
size is 4,800 sf; 14 units; sellers’ ownership in property dates to April 1978
BUYER: Congress St Residences, mng by the N. Shore Comm Dev Coalition Inc.
SELLER: Congress & Dow LLC, mgd. by Mickey Northcutt
PRICE/ADD: $3,300,000; 105-109 Congress St. & 52-60 Dow, Salem
NOTES: Multifamily properties; 105-109 Congress St. constructed 1920; build-
ing size is 11,200 sf, lot size is 10,850 sf; 8 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
Backed by $3,587,500 from Hingham Institution for Savings, inves- tor George
S. Dabney has paid $4,250,000 to secure 37 Sheafe St.in Boston’s North End
neighborhood. Dating to 1900, the eight-unit multifamily building was acquired
from AAA Boston RE LLC, its manager, Joseph F. Perroncello.
Q2/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation
Bay State Apartment Owner23
BUYER: Safe Journeys LLC, managed by Mark Dean
SELLER: 277-283 Western Ave LLC, managed by Paul Cammarata
PRICE/ADD: $2,385,000; 277-285 Western Ave., Cambridge
NOTES: 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, mngd.
by Jeff Bruce and Mat Glauninger
SELLER: GR-Westwood Glen LP, managed by Equity Residential
PRICE/ADD: $34,400,000; 21 Westwood Glen Rd.,Westwood
MTG: $31,970,000 from East Boston Savings Bank
NOTES: Multifamily property, constructed 1972; building size is 127,600 sf in
seven buildings, 156 units; seller acquired property in Nov. 1998 as portfolio
BUYER: Nonantum Properties LLC, managed by Troy Lawrence Randall
SELLER: Jean Ann Ridino
PRICE/ADD: $1,825,000; 10-12 Chase St., Newton
MTG: $1,350,000 from The Village Bank
NOTES: Multifamily property, const. 1890; building size is 4,425 sf, lot size is
12,525 sf; 5 unnits; seller’s family ownership in property dates to Nov. 1969
BUYER: GM Highland House, managed by Mordechai Sternstein
SELLER: Home Properties Highland House LLC
PRICE/ADD: $27,965,000; 9-49 Highland Ave.,Randolph
MTG: $22,520,000 from Capital One MultifamilyFinance LLC
NOTES: Multifamily properties, constructed 1967; 172 units total; 9-11 High-
land 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: Bow Somerville Apartments LLC, managed by
True North Capital Partners
SELLER: 39-49 Bow Street LLC, managed by Peter A. Dupuis, Jr.
PRICE/ADD: $4,555,000; 39-49 Bow St., Somerville
MTG: $17,510,000 from Brookline Bank
NOTES: 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
BUYER: Beacon Somerville Apartments LLC, managed
by Jeff Bruce and Mathew Glauninger
SELLER: 8-10-12 Beacon Terrace LLC, managed by Peter A. Dupuis, Jr.
PRICE/ADD: $2,480,000; 8-10-12 Beacon Ter., Somerville
MTG: $2,262,500 from Melrose Cooperative Bank
NOTES: Trio of multifamily properties; 8 Beacon Ter. a two-family property, 10
Beacon Ter. building size is three units; 12 Beacon Ter. a two-family property
BUYER: Carter Street Investment LLC, mgd. by Rick Costa
SELLER: C.F.T. Enterprises Inc., managed by James F. Follis,
PRICE/ADD: $655,000; 174-176 Chestnut St., Chelsea
MTG: $1,000,000 from New Boston Capital Corp.
NOTES: Multifamily 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 Sternstein
SELLER: Home Properties Liberty Place LLC, Rochester NY
PRICE/ADD: $19,210,000; 100 Liberty St., Randolph
MTG: $15,456,000 from Capital One Multifamily Finance LLC
NOTES: 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 2006
BUYER: Lacourt Enterprises LLC, managed by Mouhab Rizkallah
SELLER: KP Fremont LLC, managed by Adam Koncius
PRICE/ADD: $1,400,000; 20-24 Fremont St., Somerville
MTG: $1,004,500 from First Republic Bank
NOTES: Multifamily property, constructed 1910;building size is 4,425 sf, lot size
is 6,100 sf; sevenunits; last sold for $780,000, 2006
BUYER: Walnut Hill Homes LLC, mgd. by Lance LaFave
SELLER: Pinnacle Capital Group LLC, managed by Philip J. Losurdo
PRICE/ADD: $1,200,000; 35 Florence St., Natick
MTG: $900,000 from The Village Bank
NOTES: Multifamily property; building six units; last sold for $672,000 in 2004
BUYER: Dennis A. Dyer
SELLER: Pinnacle 47 Bacon LLC, mgd. by Philip Losurdo
PRICE/ADD: $3,200,000; 47 Bacon St., Waltham
MTG: $2,560,000 from East Cambridge SB
NOTES: Multifamily property, constructed 1960; building size is
10,800 sf, lot size is 15,250 sf; 12 units; last sold for $2,325,000, 2013
BUYER: Cambridge Street Holdings 1590 LLC, managed
by Alberto Haddad and Roger Lehrberg
SELLER: 1590 Cambridge Street LLC, by Mahmood Firouzbakht
PRICE/ADD: $3,500,000; 1590 Cambridge St., Cambridge
MTG: $2,825,000 from Hingham Institution for Savings
NOTES: Multifamily property, constructed 1920; building size is
8,050 sf, lot size is 5,775 sf; six units; last sold for $1,100,000, 1999
Q2/’16 Recent MA Multifamily Sales Source: The Real Reporter Media Corporation
Bay State Apartment Owner24
RHA CALENDAR OF EVENTS
FOR MORE EVENT INFORMATION VISIT WWW.GBREB.COM/RHA.
RHA OFFICERS
PresidentSarah Mathewson
President Elect
Mark R. Epker
Vice President
Kate Franco@RHAboston
2016
JULY 23RD - RHA SUMMER COOKOUT + REVOLUTIONS SOCCER MATCHLOCATION: AT GILLETTE STADIUM23
2930
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AUGUST 29TH - SEPTEMBER 1ST CAPS LOCATION: BOSTON
AUGUST 30TH - SEPTEMBER 2ND CAMT LOCATION: AT ARS NEWTON
SEPTEMBER 27TH RHA FALL CONFERENCE & EXPOLOCATION: HYNES CONVENTION CENTER
OCTOBER 12TH PROFESSIONAL DEVELOPMENT & NETWORKING SERIESLOCATION: BURLINGTON
NOVEMBER 10TH - 12TH NAA ASSEMBLY OF DELEGATES LOCATION: NATIONAL HARBOR, MD
NOVEMBER 29TH - DECEMBER 1ST CAMT LOCATION: ARS NEWTON
DECEMBER 6TH RHA PRESIDENT’S AWARDS RECEPTION LOCATION: INTERCONTINENTAL BOSTON
Saturday July 23, 2016Saturday July 23, 2016Saturday July 23, 20165:00PM5:00PM5:00PM––– Cookout & Games | 7:30 PMCookout & Games | 7:30 PMCookout & Games | 7:30 PM––– NE Revolution v. Chicago FireNE Revolution v. Chicago FireNE Revolution v. Chicago Fire
Back by popular demand! Join RHA as we celebrate summer with a family friendlyBack by popular demand! Join RHA as we celebrate summer with a family friendlyBack by popular demand! Join RHA as we celebrate summer with a family friendly
cookout, complete with games, activities and music from the Mystic Jammers,cookout, complete with games, activities and music from the Mystic Jammers,cookout, complete with games, activities and music from the Mystic Jammers,
courtesy of our Affiliate sponsors. Then stay as the New England Revolution take oncourtesy of our Affiliate sponsors. Then stay as the New England Revolution take oncourtesy of our Affiliate sponsors. Then stay as the New England Revolution take on
Chicago Fire for a showdown at Gillette Stadium.Chicago Fire for a showdown at Gillette Stadium.Chicago Fire for a showdown at Gillette Stadium.
Affiliate SponsorsAffiliate SponsorsAffiliate Sponsors
AB Supply Company | ARS Restoration Specialists | BELFOR | BG StaffingAB Supply Company | ARS Restoration Specialists | BELFOR | BG StaffingAB Supply Company | ARS Restoration Specialists | BELFOR | BG Staffing
CertaPro | Central Wholesalers |Clean Green SolutionsCertaPro | Central Wholesalers |Clean Green SolutionsCertaPro | Central Wholesalers |Clean Green Solutions
Metropolitan Cabinets & Countertops | Humbolt Storage & MovingMetropolitan Cabinets & Countertops | Humbolt Storage & MovingMetropolitan Cabinets & Countertops | Humbolt Storage & Moving
MD Weaver| Norfolk Hardware & Home Center | T & K Asphalt | WilmarMD Weaver| Norfolk Hardware & Home Center | T & K Asphalt | WilmarMD Weaver| Norfolk Hardware & Home Center | T & K Asphalt | Wilmar
Method of PaymentPre-Payment is Required. Please use this form as your invoice
if need be.
___ End Zone Seats at $30 = ______
___ Putnam Club Seats at $50 = ______
LIMITED SUPPLY | PRE-PAYMENT REQUIRED
○ Visa ○ MC ○ Amex ○ Discover ○ Check Enclosed
Card #: _____________________________Exp. Date: ______
_____ Check here if you require special accommodations to fully
participate. Please attach a written description of your needs.
REGISTRATION
Name:____________________________________
Company:__________________________________
Address:__________________________________
City:__________________State:______Zip:_______
Phone:____________________________________
Email (required):_____________________________
Car pooling suggested, only one parking pass per two tickets will be provided.Must purchase a minimum of two tickets to receive a parking pass.Please fax completed form with payment info to 617.812.4793or mail form with payment to: RHA, One Center Plaza,Mezzanine Suite, Boston, MA 02108 or email all info required above withpayment info to [email protected]
@RHAboston
Bay State Apartment Owner26
Photos taken from the RHA President’s Awards on December 1, 2015 at the Edward M. Kennedy Institute and from the RHA Successful Leasing & Marketing Through Effective Communication and RHA Next-
Gen panel presentation on March 29, 2016 at The Lantana.
RHA EVENTSNAP SHOTS
Bay State Apartment Owner27
It’s Official, we’re finally ata loss for words ...
... Except for, Thank you.
BAYSTATE SECOND QUARTER 2016
OFFICIAL MAGAZINE OF THE RENTAL HOUSING ASSOCIATION
L I V E PLAY Competing For Tenants With
Lifestyle Amenitites
WORK
AVA Theater District, rooftop lounge
On the Cover: AVA Theater District out-door lounge. AVA is an apartment community brand by Avalon - aimed at younger professionals looking for modern amenities, and inspire a com-munal setting for congregating.
The Bay State Apartment Owner is the official publication of the Rental Housing Association. © 2016 The Real Reporter Media Corporation and The Rental Housing Association All rights reserved. No part of this publication may be re-produced, re-purposed, or used on any media or social media outlet without the consent from the publisher or the RHA.
A division of The Greater Boston Real Estate BoardOne Center Plaza, Mezzanine LevelBoston MA 02108 | 617-423-8700 @RHAboston | @GBREB
RHA OFFICERSPresident - SARAH MATHEWSONPresident Elect - MARK R. EPKERVice President - KATE FRANCOExecutive Director - JOHN LAFFERTY
PUBLISHED BY
The Real Reporter Media Corporation
Ten Post Office Square, 8th fl South
Boston, MA 02109 | 617-692-2997
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