North Commons

Acquired North Commons #1, a three-story commercial building with the first-floor commercial space rented and the second and third floors featuring vacant office spaces. Recognizing the lagging office absorption in the area, we immediately rezoned the two upper floors into 16 residential apartments. The transformation included fixing the elevator, installing new heating and plumbing systems, and adding a new sprinkler system. We successfully completed the entire adaptive reuse project within 8 months, showcasing our ability to repurpose underutilized commercial spaces into profitable residential units.

Purchased North Commons #2, a robust brick building in Lynn MA, characterized by solid structural integrity and electrical systems but negatively impacted by subpar management and dated unit interiors. As tenant turnover occurred, we diligently renovated and modernized the units to boost their appeal. This approach allowed us to successfully capitalize on significant rental increases for both market-rate and Section 8 tenants. Additionally, we revamped the masonry and roof, further augmenting the property’s worth. This project exemplifies our expertise in pinpointing and seizing value-add prospects to generate substantial returns.