Windham, ME MGM Builders purchased 8 Turning Leaf Dr. from Timm Realty in a sale brokered by John Finegan and Sasha Bogdanovics of The Boulos Company.
MGM has been building homes in Southern Maine for three decades. They’ve been a tenant in the building for several years, and the time was right to invest in a permanent base of operations. They will move into a new suite, and an existing tenant will move into their former space.
A hair salon will also move into the building. MGM plans to substantially improve the building and add additional rental space.
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.
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.