Portland, ME Matthew Worthen has joined Preti Flaherty as a director in the firm’s real estate and finance group. Worthen previously served as a shareholder and chair of the real estate group at a Maine-based law firm.
Worthen is one of New England’s most accomplished real estate and finance attorneys, with more than twenty years of experience handling large and complex transactions for lenders, developers, universities, multinational corporations, and more. Leaning on his extensive industry knowledge, Worthen adeptly guides clients through a wide range of commercial and real estate transactions. From business lending and refinancing to mixed-use developments to utility-scale energy projects, he is well versed in the structuring and negotiation of a diverse range of commercial real estate matters.
“Matt’s decades of experience and pragmatic approach to client guidance fit neatly into the real estate and finance team here at Preti,” said Jason Howe, chair of the real estate and finance group. “We have made a conscious effort to grow our practice by welcoming laterals who are at the top of their respective fields, allowing us to expand a team that is focused on servicing clients both today and for the decades to come.”
“Matt is a great fit for Preti — he’s creative, he’s sharp, and he makes complex projects possible,” said Michael Smith, the firm’s newly elected managing partner. “Matt’s proven track record of success and unparalleled industry knowledge will be a major asset to our already deep bench of real estate attorneys, and we are excited to count him as a colleague.”
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.