News: Spotlights

2021 Year in Review: Nicholas Zolotas, Partner, Herrick Lutts Realty Partners

Nicholas Zolotas
Herrick Lutts Realty Partners

How has your working environment changed over the last year? Early this year we rebranded as an independent agency, amicably parting ways with Keller Williams and becoming known simply as Herrick Lutts Realty Partners. As a result of this shift, we are able to provide the best of both the latest technological tools and a more personalized service model. We have continued to focus on long-term relationships and being a full-service brokerage and advisory firm, setting our sights on building a client-focused model, a team approach to solving problems, and winning strategies

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2021? In July, we completed the sale of a 70-unit apartment community, located at 5 Dyer Court in Danvers. The community was purchased by Cranebrook Crossing LLC for a price of $11.88 million, and consists of four brick buildings comprising 39 two-bedroom, 30 one-bedroom, and one studio apartment, located on 4.32 acres. The four buildings are located adjacent to the Danvers Rail Trail, only minutes away from downtown and commuter routes. The acquisition of this apartment community was a rare opportunity to purchase 70 property units all on one parcel.

MORE FROM Spotlights
Spotlights

The New England Real Estate Journal presents the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary
The New England Real Estate Journal presents<br> the First Annual Project of the Year Award! Vote today!

The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!

The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
CRE market continues to navigate and adjust - by Kristie Russell

CRE market continues to navigate and adjust - by Kristie Russell

The New Hampshire commercial real estate landscape has experienced notable fluctuations in recent years. Within the office sector, there has been a consistent uptick in available space since 2020, attributed to a wave of companies downsizing or closing their New Hampshire operations. However,
Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Two popular sources of commercial real estate financing are banks and insurance companies. According to the Mortgage Bankers Association, banks and insurance companies combined hold 54% of the nearly $4.7 trillion in outstanding commercial mortgages as of the end of 2023. Both of these lender groups are subject to regulations