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News: Owners Developers & Managers
Posted: February 7, 2020
ViceRoy Capital Management purchases 149-unit portfolio for $17.2m - handled by Kelleher, Pentore and Girolamo of Horvath & Tremblay
Peabody, MA Dennis Kelleher, John Pentore and Steve Girolamo of Horvath & Tremblay have sold an 11 building, 149-unit portfolio for $17.2 million. The trio represented both the seller, Northfield Properties LLC, run by Norman Lee, Jim Gebo and Shawn Farrell and buyer, ViceRoy Capital Management, headed by Carl Valeri and Sandra Capo.
The portfolio consists of 134 residential units and 15 street-level retail units in 11 buildings centered around Main St. in downtown. The assets represent the rare opportunity to own a critical mass of properties featuring work-force housing and retail. Under previous ownership, Northfield Properties completed upgrades, including renovation of 106 of the 134 residential units, 8 of the 15 retail units, capital improvements and cosmetic upgrades throughout. The opportunity exists for ViceRoy to continue the programmatic upgrades to the properties and increase immediate and long-term value to the assets.
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Columns and Thought Leadership
Selecting the right façade installation firm - by Steven Powell
As the owner of a major new property being developed, or an existing large building preparing for major renovation, you want your design and construction team to have the right experience, capabilities, and expertise to match the project demands. A critical member of this team will be the façade installation specialty firm, since the quality of this installation will impact
Recently passed legislation creates opportunities to meet CT’s changing energy needs - by Klein and Feinn
For decades, New England has had a summer-peaking power system, where the greatest energy use occurs on the hottest and most humid days, due to widespread use of air conditioning. But by the mid-2030s, electrification of the heating sector likely will result in a winter peak that’s higher than the summer peak.
IREM President’s Message: Fostering community connections during the holiday season
The holidays are again taking center stage, and with them comes an opportunity for multifamily communities to connect with the businesses and organizations in their cities and towns, fostering a sense of unity and generosity during this giving season
