
Cardente Real Estate
Portland, ME According to Cardente Real Estate, Kristian and Stephanie Brown have purchased a 3-unit multifamily building located at 115 Veranda St. for $486,000. This transaction was brokered on behalf of the seller, Tim Corcoran, by Mike Cobb of Cardente Real Estate, and on behalf of the buyers by Amy Tarbox of The Bean Group.
In another transaction, 22-101 West Cole Associates, LLC, has purchased a 1,860 s/f medical office condominium at 22A West Cole Rd. in Biddeford for $108,000. This transaction was brokered on behalf of the seller, Moses ME Ltd. by Ed Herczeg of TMREN, and on behalf of the buyer by Cheri Bonawitz of Cardente.
PCS Family Homes has leased 1,100 s/f of office space from Galos Saco Road, LLC, at 890 Portland Rd., Saco. This transaction was brokered by Mark Sandler of Cardente.
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.